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My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy.

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
Natural
Federal
Regulators
Problem
Potential
Complement
Role
Limiting
Problems
Identifying
Policy
Reserve
Roles
Monetary
Risk
Preference
Regulator
Responsibility
Reserves
Systemic

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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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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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It is the policy of the federal government to use all resources at its disposal to make our financial system stronger.
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A Fed loan to Lehman Brothers would not have prevented a bankruptcy.
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I believe that the root cause of every financial crisis, the root cause, is flawed government policies
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Payment systems are critically important for overall market stability. On a typical business day, U.S. payment and settlement systems settle transactions valued at over $13 trillion.
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The first priority is to make sure we have capital to continue to have capital available to put into the financial system. That's the first priority.
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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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As a Christian Scientist, I don't go to doctors and get diagnoses.
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Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.
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The worst is likely to be behind us.
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I'm a straightforward person. I like to be direct with people.
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In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
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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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What I've said repeatedly is, 'I think the auto industry is a very important industry.'
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China saves too much, produces too much, sells too much to Americans and consumes too little.
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I've always said, 'I don't want to be irrelevant.'
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I think all governments engage in intelligence gathering vis-a-vis other governments.
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There are some things that you can work on immediately.
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I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained.
Henry Paulson