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I believe that the root cause of every financial crisis, the root cause, is flawed government policies

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
Policy
Causes
Flawed
Government
Policies
Every
Root
Believe
Roots
Financial
Crisis
Cause

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I'm a straightforward person. I like to be direct with people.
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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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In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
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The worst is likely to be behind us.
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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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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.
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In just about every area of society, there's nothing more important than ethics.
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An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention.
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There are some things that you can work on immediately.
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I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible.
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