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Henry Paulson New Secretary of the Treasury

The United States gained a new Treasury Secretary on Monday, Henry Paulson. A former head of Goldman Sachs Group, Paulson made only a brief statement following his swearing in by Chief Justice of the Supreme Court John Roberts in the presence of his wife and President George W. Bush. ?We must always remember that the strength of the U.S. economy is linked to the strength of the global economy,? Paulson said, adding that ??if we retreat from the global stage, the void is likely to be filled by those who do not share our commitment to economic reform.?

During his time as head of Goldman Sachs, a leading investment bank in the United States, Paulson was known for the long hours he was willing to put in on a daily basis. This stands in marked contrast to the man who selected him, President Bush. Bush is known to prefer an early bedtime, no matter what is going on. On the morning of his swearing in, Paulson reportedly arrived at the Treasury in Washington, D.C. at 7 a.m. to get acquainted with other Group of Eight nations? financial ministers, members of the Congress, and officials from the Chicago Board of Trade and the New York stock exchanges.

Paulson succeeded former Treasury Secretary John Snow, who left the Department of the Treasury earlier this year. Paulson said that he intends ensure that America?s economy ?remains a model of strength, flexibility and openness.? Paulson isn?t the first former head of Goldman Sachs to become Treasury Secretary, Robert Rubin was also a former Goldman Sachs head when he was tapped by Bill Clinton to serve in the Treasury.