Thanks, Dad! Hank Paulson's Son Meets The Credit Crunch

Hank Paulson’s son, Merritt, owns a minor league baseball team and a soccer team in Portland, Oregon, and now the kid is in a pickle trying to issue bonds to build a new stadium.

Hey, blame your old man.

He and Hank, though, have a good relationship. In fact, the former Goldman chief and Treasury Dept. boss, lent his son $50 million to buy the he Portland Beavers, a minor league affiliate of the San Diego Padres, and the Portland Timbers, a minor league soccer team.

But now the kid, 36, has to get financing to build a baseball stadium so that Memorial Stadium — currently home to both teams — can be used for soccer only. And he needs to do it by September.

And, according to the New York Post, the younger Paulson has also hired Goldman Sachs to help him do the deal.

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