There was an approach last month from Russia. They have considerable holdings in Fannie...
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Chinese Official:
There was an approach last month from Russia. They have considerable holdings in Fannie and Freddie as well. They suggested we coordinate and without warning dump hundreds of billions of Fannie and Freddie's bonds onto the market.
Henry Paulson:
[Flabbergasted]
That would be...
Chinese Official:
Chaos. The amount of debt your country carries is a terrible vulnerability.
Henry Paulson:
But you...
Chinese Official:
We declined. Respectfully. Even in the US it seems the relationship between the government and private industry isn't so simple.
Transcript
00:00:01.000 --> 00:00:04.836
There was an approach last month from Russia
00:00:04.087 --> 00:00:07.104
They have considerable holdings
00:00:07.139 --> 00:00:08.806
in Fannie and Freddie as well
00:00:08.084 --> 00:00:11.641
They suggested we coordinate
00:00:11.676 --> 00:00:13.071
and without warning dump hundreds of billions
00:00:13.744 --> 00:00:16.999
of Fannie and Freddie's bonds onto the market
00:00:18.448 --> 00:00:20.115
That would be
00:00:20.015 --> 00:00:22.015
Yes
00:00:22.185 --> 00:00:25.022
The amount of debt your country carries
00:00:25.254 --> 00:00:28.999
is a terrible vulnerability
00:00:32.997 --> 00:00:33.259
But you
00:00:33.294 --> 00:00:36.562
we declined respectfully
00:00:38.965 --> 00:00:41.996
Even in the U S it seems
00:00:41.067 --> 00:00:44.702
the relationship between the government and private industry
00:00:44.737 --> 00:00:46.937
isn't so simple
Clip duration: 56 seconds
Views: 150
Timestamp in movie: 00h 17m 48s
Uploaded: 25 November, 2022
Genres: biography, drama, history
Summary: Chronicles the financial meltdown of 2008 and centers on Treasury Secretary Henry Paulson.
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