Henry Paulson
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.
A state-based regulatory system is quite burdensome. It allows price controls to create market distortions. It can hinder development of national products and can directly impact the competitiveness of U.S. insurers.
As Americans, we shouldn't like bailouts. Where I come from, if someone takes a risk and they're going to make the profit from that risk, they shouldn't have the taxpayer pay for the losses.
If the financial system collapses, it's really, really hard to put it back together again.
Regulation needs to catch up with innovation.
When the economy is growing, there's a lot that can be done to deal with the deficit.
One of the things I enjoy the most is fishing.
We've had crooks from the beginning of time... it's always very interesting and troubling why good people do bad things.
In the past, if a homeowner with a mortgage had a problem making the payment, often he'd get together with a lender and strike a deal, because foreclosures are very expensive to the lender and obviously not good for the homeowner and the community.
I've never been antiregulation. I've always believed that raw, unregulated capitalism doesn't work.
I didn't get the charm gene.
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.
I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained.Collection: Thinking
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.Collection: Strong
There's always light at the end of the tunnel, right? It just depends on how long the tunnel is.Collection: Tunnels
It's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.Collection: Sound
There is no way to stabilize the markets other than through government intervention.Collection: Government
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.Collection: Past
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.Collection: People
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.Collection: Sports
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.Collection: Recovery
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.Collection: Strong
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.Collection: Priorities
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.Collection: Oil
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.Collection: America
I don't think a bankruptcy is a good thing.Collection: Thinking
The worst is likely to be behind us.Collection: Worst
I see the underlying economy as being very healthy.Collection: Healthy
I believe that the root cause of every financial crisis, the root cause, is flawed government policiesCollection: Believe