from collapsing and avoid disaster. you mentioned the president and he said, we hate them like you hate a root canal. that means ben bernanke, you guys were the dentists. how does that make you feel the thing that everyone hates sts thing you had to do. i felt like i was having a root canal without anesthesia at the same time. there s a scene in my book on the brink. and this was a day or two before we were going to need to step in and rescue citigroup. what really hit me was that i was forever going to be associated with these bailouts and the treasury secretary that did these interventions. then i said, that will be the good news. the bad news will be if we can t
this comes as toyota has recalled more than 8 million vehicles. there you see the lists of the makes and models from problems to floor mats to gas pedals and the corolla is already on the list. brake problems and steering problems, and they have all of them. american spending saving too little, excuse me. spending too much and saving too little. the warning we re getting from henry paulson. just published a new book on the near collapse called on the brink . he sat down with christine romans to talk about the economic future. what did he say? wide ranging interview, 35 minutes talking about his ties to goldman sack and the bailouts and where are we going from here
auto industry. very troubling. experts say that lawsuits linked to toyota s massive recalls could end up costing the largest automaker more than $2 billion. there are already more than 30 suits filed against toyota and one class action lawsuit involving brakes. henry paulson says he doesn t get concerned with second guessing himself, he just published a new book called on the brink. he also sat down with christine romans, she joins us with part two of her interview with henry paulson. what did he say about those quick decisions that were made when there was so much concern over whether we were go to lose everything. he understands the anger of american people but they averted
let me ask you about the president and about the president s team. this is something you wrote in your new book on the brink about election night and a change in leadership. after the democratic candidate was declared the winner at 11:00 p.m., you wrote wendy, your wife, woke me up to tell me the historic news. i went back to sleep comforted by the knowledge that our president-elect, barack obama, fully north dakota tunderstood economy still faced. what do you say after more than a year? what i say is this. i take real comfort in the fact that the programs that were put in place to stabilize the economy were continued and much of what has been done has been a continuation or a logical extension of those programs. i believe the financial markets are stable. i believe the programs have worked. they prevented the collapse of
of financial institution, when it faces failure, that it is liquidated and liquidated in a way in which the taxpayer is not going to have to come up again and prop up or bail out a financial institution. all right. we will leave it there. before i let you go, here s the picture of you back in the playing days of dartmouth here. we ve got a couple of football fans because i know dr. greenspan you are as well. super bowl picks. secretary paulson, you first. well, i m going to go with indiana and peyton manning. it s very difficult to go against peyton manning. my view as well. we ll make that the last word. thank you both very much. i should mention we ll continue our discussion with secretary paulson and ask him some questions the viewers have submitted via e-mail and twitter. you can also read an excerpt from his book on the brink. also look for updates from me