Johann Galt

The Secret Paulson-Goldman Meeting

Perhaps he meant Bear Stearns?


On Oct 21 10:11 AM John Lounsbury wrote:

> Felix - - -
>
> Good post. The Sorkin book is being added to my must read list.<br/>
>
> I found the following quote you gave problematic:
>
> For the next hour, Paulson regaled his old friends with stories about
> his time in Treasury and his prognostications about the economy.
> They questioned him about the possibility of another bank blowing
> up, like Lehman, and he talked about the need for the government
> to have the power to wind down troubled firms, offering a preview
> of his upcoming speech.
>
> This doesn't make sense. The meeting was in June and Lehman blew
> up in September. The entire meaning would be changed and become consistent
> with history if the wording was changed as follows: "... the possibility
> of a major bank blowing up, like Lehman would later,..."