Paulson: My role in the crisis

Speaking at Hong Kong University, Hank Paulson explains why Lehman had to fail and how people in the US need to understand that China did not cause the financial crisis.
April 11, 2011
Paulson arriving for testimony before Congress in 2009 AFP

Hank Paulson talked to a packed auditorium at Hong Kong University yesterday about his role in the financial crisis, the nature of China-US relations and the nobleness of being a banker.

Victor Fung, chairman of the Li Fung Group, moderated the conversation with the former US Treasury secretary and decided to start with a question on the role Paulson played in the global financial crisis. “Why did the US government save AIG and Bear Stearns and let Lehman fail” asked Fung, adding that he might as well tackle the question the...

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