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A Financial Crisis Could Happen Again, Says Paulson

Henry Paulson sits in his office on Aug. 20 in Chicago
Henry Paulson sits in his office on Aug. 20 in ChicagoPhotograph by Melanie Stetson Freeman/The Christian Science Monitor via Getty Images

Former Treasury Secretary Henry Paulson told an audience of bankers and economists at a hotel on New York’s Fifth Avenue today that many of the factors that contributed to the financial crisis of 2008 are still in place. Asking rhetorically whether another crisis could occur, Paulson said: “The answer, I’m afraid, is yes.”

Paulson is in demand these days because as President George W. Bush’s Treasury secretary he was a key player in the dramatic efforts to rescue the financial system after Lehman Brothers declared bankruptcy on Sept. 15, 2008. Bloomberg Businessweek will feature Paulson in a special fifth-anniversary issue, and the magazine commissioned a documentary called HANK: Five Years From the Brink. Clips from the movie are available now on the magazine’s website.