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

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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 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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China saves too much, produces too much, sells too much to Americans and consumes too little.
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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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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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I believe that the root cause of every financial crisis, the root cause, is flawed government policies
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There are some things that you can work on immediately.
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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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There is no way to stabilize the markets other than through government intervention.
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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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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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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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