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

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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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There is a very real danger that financial regulation will become a wolf in sheep's clothing.
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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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What I've said repeatedly is, 'I think the auto industry is a very important industry.'
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In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
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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.
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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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One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.
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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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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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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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The worst is likely to be behind us.
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