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

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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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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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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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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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China saves too much, produces too much, sells too much to Americans and consumes too little.
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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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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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There are some things that you can work on immediately.
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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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In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
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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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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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There is no way to stabilize the markets other than through government intervention.
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In just about every area of society, there's nothing more important than ethics.
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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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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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What I've said repeatedly is, 'I think the auto industry is a very important industry.'
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As a Christian Scientist, I don't go to doctors and get diagnoses.
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