Quote

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.

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
Financial
Scarce
Resources
Effectively
Open
Intervention
Better
Competitive
Stability
Manner
Allocate
Prosperity
Governmental
Market
Promotes

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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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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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There's always light at the end of the tunnel, right? It just depends on how long the tunnel is.
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There is no way to stabilize the markets other than through government intervention.
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There are some things that you can work on immediately.
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China needs a currency that reflects underlying economic fundamentals.
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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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China saves too much, produces too much, sells too much to Americans and consumes too little.
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Anticompetitive practices hurt Chinese private firms nearly as much as foreign ones.
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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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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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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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I think all governments engage in intelligence gathering vis-a-vis other governments.
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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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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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What I've said repeatedly is, 'I think the auto industry is a very important industry.'
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In just about every area of society, there's nothing more important than ethics.
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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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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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