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DVIDS – News – Under Secretary of Army McPherson tours schools, housing renovation site


FORT LEE, Va. (Oct. 13, 2020) — The Army’s second-highest-ranking civilian spent a good part of his day here Oct. 7 touring training facilities, conversing with troops and spotlighting efforts to improve privatized military family housing.

Under Secretary of the Army James McPherson received a glimpse of quartermaster and ordnance training, lunched with students at the Samuel Sharpe Dining Facility and addressed members of the media outside a newly renovated residence in the Jackson Circle neighborhood.

Maj. Gen. Rodney D. Fogg, U.S. Army Combined Arms Support Command and Fort Lee commanding general, hosted the undersecretary and accompanied him throughout the tour.

McPherson’s first stop was the QM School’s Petroleum and Water Department. There, he met with administrators, instructors and students. He also received a familiarization on the latest virtual training systems said to save time and resources while improving technical skills.

Advanced individual training Soldiers Spc. Zoya Goodwin, Pvt. Xavier Sullivan-Dixon and Pvt. Paden Bear were among those who briefed the undersecretary, walking him through a virtual training session.

“We have a new breed coming into the force, and they gravitate toward technology,” pointed out PWD Director Jose Hernandez, who was present for the briefing and spoke highly of the professionalism and confidence demonstrated by his junior Soldiers. “This is what they like, and when you mesh what they like with the learning experience, the confidence level just goes up.”

McPherson spent roughly an hour at PWD and later presented Soldiers and leaders with coins. Hernandez said he was thrilled senior leaders are taking an interest in virtual learning programs at the school and is always glad to demonstrate how students are benefiting from it.

“I thought it was a great visit,” Hernandez said. “It was good to have someone from the Pentagon visit us and see how

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Warren Buffett phoned Treasury Secretary Hank Paulson with a stimulus idea when the 2008 financial crisis erupted. It may have saved the US economy

warren buffett hank paulson
U.S. Treasury Secretary Henry Paulson (L) shares a laugh with financier Warren Buffett, Chairman and CEO of Berkshire Hathaway, at the Conference on U.S. Capital Market Competitiveness in Washington March 13, 2007.

  • Warren Buffett phoned Treasury Secretary Hank Paulson at the height of the 2008 financial crisis with a suggestion that likely saved the US economy from an even deeper recession.
  • The famed investor and Berkshire Hathaway CEO proposed the government plow capital directly into banks instead of only buying their distressed assets.
  • Paulson quickly gathered the bosses of the nation’s biggest banks and convinced them to accept billions of dollars in investment.
  • The Treasury demanded preferred stock paying chunky dividends, as well as stock warrants in return, emulating Buffett’s bailout of Goldman Sachs in September 2008.
  • Former President George W. Bush called it “probably the greatest financial bailout ever” and said it “probably saved a depression.”
  • Visit Business Insider’s homepage for more stories.

Warren Buffett made a late-night call on Saturday, 11 October 2008 that likely spared the US from an even more devastating financial crisis.

The billionaire investor and Berkshire Hathaway CEO dialed then-Treasury Secretary Hank Paulson, the pair said in “Panic: The Untold Story of the 2008 Financial Crisis,” a documentary released in 2018.

“Hank, this is Warren,” Buffett said. A tired and groggy Paulson’s first thought was, “My mom has a handyman named Warren, why is he calling me?”

Buffett was calling about the Troubled Asset Relief Program (TARP), which authorized the Treasury to spend $700 billion purchasing distressed assets from banks. Lawmakers passed it in a desperate effort to shore up the financial system after the collapse of Wachovia and Washington Mutual — two of the greatest bank failures in American history.

Read more: GOLDMAN SACHS: Buy these 15 stocks set to

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