Henry Paulson Quotes

I'm a straightforward person. I like to be direct with people.

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.

I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained.

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.

It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.

Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.

There's always light at the end of the tunnel, right? It just depends on how long the tunnel is.

I never once considered that it was appropriate to put taxpayer money on the line in resolving Lehman Brothers.

In just about every area of society, there's nothing more important than ethics.

As a Christian Scientist, I don't go to doctors and get diagnoses.

Regulation needs to catch up with innovation.

Economic growth and environmental protection are not at odds. They're opposite sides of the same coin if you're looking at longer-term prosperity.

When you have a big, ugly problem, there's never going to be a neat, elegant solution that is totally painless or without a cost.

Every global concern - economic, environmental or security-related - can be addressed more effectively when the U.S. and China work together.

I have relied on prayer for health care all of my life.

China saves too much, produces too much, sells too much to Americans and consumes too little.

As a child, I could beat most kids in sprints, but overall, wrestling was the most natural sport for me. In fact, I was a pretty good high school wrestler. I was unusually quick and strong.

Well, as you know, we're working through a difficult period in our financial markets right now, as we work off some of the past excesses. But the American people can remain confident in the soundness and the resilience of our financial system.

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.

I didn't get the charm gene.

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.

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.

I believe that the root cause of every financial crisis, the root cause, is flawed government policies

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.

What I've said repeatedly is, 'I think the auto industry is a very important industry.'

U.S. exports to China have more than quintupled since China entered the WTO and have grown more quickly than imports. In fact, China is America's fastest-growing export market.

In terms of the overall economy, we've got challenges and the big focus has got to be on recovery, on repair, and that's going to take a while.

I think all governments engage in intelligence gathering vis-a-vis other governments.

India is a vibrant nation whose strength lies in its commitment to equal rights and to speech, religious and economic freedoms that enrich the lives of all citizens. India is not only the world's largest democracy; it is also a secular, pluralistic society committed to inclusive growth.

China and the U.S. are the two largest importers of oil. They are the two largest emitters of carbon.

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.

One of the things I enjoy the most is fishing.

In China, export lobbies have fought for policies that favor their interests and limit foreign competition.

It is the policy of the federal government to use all resources at its disposal to make our financial system stronger.

One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.

There are two issues that people sometimes confuse, but they're very closely related. There is the strength and the stability of the American financial system. And it's very important that that system remain stable and remain strong and lending is very important to consumers. Secondly, the economy. And what has gone on in financial system is impacting the economy. And as the economy is turning down, it is very important that lending continue to be available and be available to consumers. So what we're doing with this facility is to support - is to support consumer lending.

I see the underlying economy as being very healthy.

The worst is likely to be behind us.

A Fed loan to Lehman Brothers would not have prevented a bankruptcy.

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.

Anticompetitive practices hurt Chinese private firms nearly as much as foreign ones.

I don't think a bankruptcy is a good thing.

I understand how important the automakers are to America. And I understand a bankruptcy; a failure in that industry wouldn't be a good thing. It's something we should avoid.

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.

The most pressing and significant problems in the global economy are unsustainable structural issues with regard to the E.U. - fiscal deficits and the structure of the E.U. itself.

Buying a home today is a complex process, but that in no way excuses home buyers from their obligation for due diligence.

China needs a currency that reflects underlying economic fundamentals.

There is no way to stabilize the markets other than through government intervention.

I've always said, 'I don't want to be irrelevant.'

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.