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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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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As the Indian government has embraced greater economic openness, the creativity and expertise of the Indian workforce has been unleashed onto the world economic stage.
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There is no way to stabilize the markets other than through government intervention.
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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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A Fed loan to Lehman Brothers would not have prevented a bankruptcy.
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