On the Brink is a book written by former Treasury Secretary Henry Paulson. It gives an insider account of the events that unfolded in the biggest financial crisis that took place since the Great Depression.
During the crisis, major institutions including Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, AIG, Merrill Lynch, and Citigroup all stood at the edge of collapse. Decisions had to be made at lightning speed to prevent the financial system from collapsing.
“The pace of events during the financial crisis of 2008 was truly breathtaking. In this book, I have done my best to describe my actions and the thinking behind them during that time, and to convey the breakneck speed at which events were happening all around us.
I believe the most important part of this story is the way Ben Bernanke, Tim Geithner, and I worked as a team through the worst financial crisis since the Great Depression. There can’t be many other examples of economic leaders managing a crisis who had as much trust in one another as we did. Our partnership proved to be an enormous asset during an incredibly difficult period. But at the same time, this is my story, and as hard as I have tried to reflect the contributions made by everyone involved, it is primarily about my work and that of my talented and dedicated team at Treasury.”
Earlier this week, Warren Buffett and Henry Paulson appeared in an informal 50-minute “conversation” that focused on Paulson and the events he writes about in his book, On the Brink: Inside the Race to Stop the Collapse of the Global Financial System
Here, in two parts, is the video recording of the entire event: