Hank Paulson's Journey Through the Financial Crisis

Your next video will start in

Recommended Videos

  • Info

  • Comments


Sept. 12 (Bloomberg) -- Bloomberg Businessweek Editor Josh Tyrangiel discusses the inspiration for the film "Hank: Five Years From the Brink," which tells story of Hank Paulson's personal journey through the 2008 financial crisis in his own words. He speaks on Bloomberg Television's "Market Makers."

If you know hank olson or if you have seen him speak publicly, you know it took someone with a very creative mind to envision the former treasury secretary as a movie star.

That would be josh terengal, the editor of " bloomberg businessweek." he is here with us now.

Good to see you guys.

How did you persuade hank paulson who is not a very public individual to cooperate and go this far?

The movie is about hank.

This started with a couple of conversations i had with friends of his.

As journalists and you meet with someone, i tend to ask them what are the untold stories?

What are you surprised the press is not covered?

Two people close to him said nobody has ever gotten the story right.

A bunch of people have tried but nobody has the neighbor -- has been ever able to explain who hank is and what his role was.

I knew him a little bit and met him and it struck me that the real challenge with getting him to be -- was getting him to be authentic.

He is, for better or worse, 100% himself which does not play great on tv or speeches but if you let him talk, he is so animated.

He is quite likable.

I want to him and i said the five-year anniversary is coming and the first first draft of history will close.

Do you think you will have regrets?

I thought maybe the right medium was not an op-ed or a magazine story but a film.

He thought it over but i could see that he was already looking for reasons to say no because he did not want to say yes.

What surprised you about what he revealed?

There is so much detail to the story that we all think we know or remember.

Even adjust five years, we forget how much up against it, not just the united states economy, but civilization in general.

When you hear about the cascade of problems and realize there was one guy essentially put in charge of trying to figure it out frantically and he concedes that they did not always know what they were doing.

They were dealing with one problem at a time and could not see around the corner.

There is a lot of rethinking on his part about the way they reacted and the way they presented things and also a lot about his family.

You really don't think you're is a guy with a rich personal life.

You think he is the former ceo of goldman sachs but he is a guy going through something with a marriage of a family and the impact on all that is quite emotional.

The letter from the editor you wrote in this week's issue which goes on newsstands tomorrow.

Tomorrow morning, tonight on the ipad.

You make a very good point which is that five years later, there are still tons of debate over who is responsible.

There is plenty of blame to go around great what surprised you most about what paulson had to say about the origins and the outcome of the crisis?

What surprised me was his outrage, that he was outraged around bank behavior and was outraged around the demand for bonuses.

He had made a very disciplined decision was that you cannot punish the banks and save the banks at the same time.

He sat there and, despite his own moral outrage around the behavior, said this is not the time for me to scold them.

This is the time permitting save them and i will let all the other political things happen afterwards but if it does not happen, we cannot save the economy.

Why did you partner with netflix?

I talked to ted saranos and we had a five-minute conversation and he wanted to be in on it.

We had a lot of choices as to whom we could partner with but our goal was to get this story out to as many people as possible.

The content acquisition story behind that extraordinary run-up to this fascinates everyone.

I like the decisiveness of netflix.

They say we will do it.

They were in part really interested in us because we know how to deliver news and deliver news around a singular event.

That means somebody going into netflix and clicking on this when it comes out.

They are funneling all the stuff we are doing to a single transaction point touches clicking in your queue and you will watch it.

I was impressed how quickly and decisively they moved and how enthusiastic they were for the project.

It is terrific, a fascinating issue of " bloomberg businessweek." i am looking forward to watching the documentary tonight.

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change