Hank Paulson and the power of prayer

Hank Paulson, former US Treasury Secretary, reveals how he turns to prayer in his - and the world's - time of need.

We post this interesting tidbit from the memoirs of Hank Paulson, who was US Treasury Secretary during the credit crisis, with no further comment. Hat tip to Jonathan Allum at KBC for pointing it out.

"I left the New York Fed before 9pm, optimistic about the prospects for a deal. The industry was doing its part to come up with funding, and I had reason to believe we would find a solution to Barclays' need for a shareholder vote.

"Anticipating another sleep-deprived night, I arrived back at the hotel exhausted. I went into the bathroom of my room and pulled out a bottle of sleeping pills I'd been given. As a Christian scientist, I don't take medication, but that night I desperately needed rest.

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"I stood under the harsh bathroom lights, staring at the small pill in the palm of my hand. Then I flushed it - and the contents of the entire bottle - down the toilet. I longed for a good night's rest. For that, I decided, I would rely on prayer, placing my trust in a Higher Power."

Former US Treasury Secretary Hank Paulson (from his memoir "On the Brink")

Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.