Paulson Discusses Goldman Sachs' (GS) $60 Billion 'Rainy Day' Fund
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Discussing his CNBC interview with former Treasury Secretary and Goldman Sachs (NYSE: GS) Chairman Hank Paulson, Steve Liesman notes Paulson said Goldman has or at least had a $60 billion 'rainy day' fund made up of bonds in a safe deposit box at Bank of New York Mellon.
This was noted on page 99 of Paulson's new book "On the Brink": "To be on the safe side, we kept a lockbox at the Bank of New York filled with bonds that we never invested or lent out. When I was CEO at Goldman, we had amassed $60 billion in these cash reserves alone. Knowing we had that cushion helped me fall asleep at night..."
This was noted on page 99 of Paulson's new book "On the Brink": "To be on the safe side, we kept a lockbox at the Bank of New York filled with bonds that we never invested or lent out. When I was CEO at Goldman, we had amassed $60 billion in these cash reserves alone. Knowing we had that cushion helped me fall asleep at night..."
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