The Chief Investment Officer of a prestigious university sits at the center of modern finance: hundreds of hedge funds, venture capitalists, stock pickers, bond traders, and private equity managers visit him every year, asking for money. He helms the engine room of the modern academy: the six-billion-dollar endowment he presides over allows the school to compete for students, faculty, prestige, moral purpose and solvency. The CIO is a winner in bourgeois America's highest dream: "doing well by doing good.

In 1995, Treasury Secretary Robert Rubin re-defined the next thirty years of currency policy that ushered in exceptional prosperity and cheap foreign goods, but the strong dollar policy also played a role in the devastating hollowing out of America’s manufacturing sector. Meanwhile, abroad, the United States increasingly turned to the dollar as a weapon of war. In Paper Soldiers, Saleha Mohsin reveals how the Treasury Department has shaped U.S. policy at home and overseas by wielding the American dollar as a weapon—and what that means in a new age of crisis.

In 1986, the SEC and the U.S. Attorney for the Southern District of New York began an investigation into Michael Milken, Drexel Burnham Lambert, and its High Yield and Convertible Bond Department, a department Michael created and was head of. Michael was the most successful and innovative financier of his time. Drexel, an upstart investment bank was also the most successful securities firm on Wall Street, thanks to Michael.

Joseph Seligman arrived in the United States in 1837, with the equivalent of $100 sewn into the lining of his pants. Then came the Lehman brothers, who would open a general store in Montgomery, Alabama. Not far behind were Solomon Loeb and Marcus Goldman, among the “Forty-Eighters” fleeing a Germany that had relegated Jews to an underclass.

Frederick Rutland was an accomplished aviator, British WWI war hero, and real-life James Bond. He was the first pilot to take off and land a plane on a ship, a decorated warrior for his feats of bravery and rescue, was trusted by the admirals of the Royal Navy, had a succession of aeronautical inventions, and designed the first modern aircraft carrier. He was perhaps the most famous early twentieth-century naval aviator. Despite all of this, and due mostly to class politics, Rutland was not promoted in the new Royal Air Force in the wake of WWI.