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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.
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
Asia
Oil
Variety
Save
Exporters
Didn
Imbalances
Whole
Structural
Enough
Imbalance
Things
Borrowed
More quotes by Henry Paulson
China needs a currency that reflects underlying economic fundamentals.
Henry Paulson
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
A Fed loan to Lehman Brothers would not have prevented a bankruptcy.
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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.
Henry Paulson
In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
Henry Paulson
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.
Henry Paulson
Buying a home today is a complex process, but that in no way excuses home buyers from their obligation for due diligence.
Henry Paulson
I believe that the root cause of every financial crisis, the root cause, is flawed government policies
Henry Paulson
As a Christian Scientist, I don't go to doctors and get diagnoses.
Henry Paulson
I think all governments engage in intelligence gathering vis-a-vis other governments.
Henry Paulson
The worst is likely to be behind us.
Henry Paulson
I'm a straightforward person. I like to be direct with people.
Henry Paulson
There are some things that you can work on immediately.
Henry Paulson
There's always light at the end of the tunnel, right? It just depends on how long the tunnel is.
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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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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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I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained.
Henry Paulson
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.'
Henry Paulson
It is the policy of the federal government to use all resources at its disposal to make our financial system stronger.
Henry Paulson