Paulson Book: Behind the Scenes, GE’s Top Exec Confided Credit Woes
This story was co-published with The Washington Post.
As the financial crisis worsened toward the end of 2008, CEO Jeffrey Immelt and other leaders at General Electric repeatedly assured the public that there was no need to worry about the company’s ability to access credit markets and refinance its massive debts as they came due.
But in private conversations that alarmed then-Treasury Secretary Henry Paulson, Immelt laid out a different picture of GE’s credit situation, according to Paulson’s new book about the … more…
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Jeff Gerth worked as an investigative reporter at The New York Times from 1976 through 2005. His work has twice been honored with the Pulitzer Prize. He also won a George Polk Award. His often-prescient coverage has run the gamut from Al Qaeda to Enron, from Whitewater to Chinese technology transfers. During 2004 he was a visiting professor at Princeton University, where he taught an undergraduate seminar on investigative reporting. Gerth is also the co-author (with Don Van Natta Jr.), of Her Way: The Hopes and Ambitions of Hillary Rodham Clinton, published last year.
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