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Paul Allen McCulley (created March 13, 1957) is an American economist and managing director at PIMCO. He coined the terms Minsky second and Shadow banking system which became renowned through the Fiscal disaster of 2007–2009. Moreover, he headed PIMCO’s short term bond desk, directed PIMCO’s cyclical economic newsgroups and was writer of the monthly research publication, International Central Bank Focus. During 1996–98, he was named to six seats on the Institutional Investor All-America fixed income research team. He’s 25 years of investment experience and holds an M.B.A. from Columbia Business School. He received his undergraduate degree from Grinnell College. McCulley sticks to Keynesian economics, and was especially affected by Hyman Minsky. He’s a regular guest of CNBC and Bloomberg Television supplying investment comments.