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In just about every area of society, there's nothing more important than ethics.
Henry Paulson
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Henry Paulson
Age: 78
Born: 1946
Born: March 28
Banker
Former United States Secretary Of The Treasury
Investment Banker
Politician
Palm Beach
Florida
Areas
Society
Nothing
Important
Every
Area
Ethics
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There's always light at the end of the tunnel, right? It just depends on how long the tunnel is.
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Buying a home today is a complex process, but that in no way excuses home buyers from their obligation for due diligence.
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China needs a currency that reflects underlying economic fundamentals.
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I've always said, 'I don't want to be irrelevant.'
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As a Christian Scientist, I don't go to doctors and get diagnoses.
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In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
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There is a very real danger that financial regulation will become a wolf in sheep's clothing.
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China saves too much, produces too much, sells too much to Americans and consumes too little.
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The U.S. didn't save enough we borrowed a lot. There were structural imbalances in Asia with exporters, with oil exporters for a whole variety of things.
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Even if you don't have the authorities - and frankly I didn't have the authorities for anything - if you take charge, people will follow.
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A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles.
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For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
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The worst is likely to be behind us.
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