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Henry Paulson [1946-0] American

Rank: 101
Public Servant, Former United States Secretary of the Treasury

Henry "Hank" Merritt Paulson, Jr. is an American banker who served as the 74th Secretary of the Treasury. He had served as the Chairman and Chief Executive Officer of Goldman Sachs, and is now a fellow at the Harris School of Public Policy Studies and the chairman of the Paulson Institute at the University of Chicago, which he founded in 2011 to promote sustainable economic growth and a cleaner environment around the world, with an initial focus on the United States and China.

Environmental, Society, Architecture, Failure, Intelligence, Strength

Quote	Tags	Rank
I'm a straightforward person. I like to be direct with people.		101
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.	Failure	102
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.	Environmental	103
I always told people in the private sector, 'You can be the smartest person in the world, you can have the very best ideas, but if you can't sell them and you can't get other people to work with you, you're not going to succeed.'		104
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.	Society, Strength	105
There is a very real danger that financial regulation will become a wolf in sheep's clothing.		106
In just about every area of society, there's nothing more important than ethics.	Society	107
I've always said, 'I don't want to be irrelevant.'		108
I have always tried to live by the philosophy that when there is a big problem that needs fixing, you should run towards it, rather than away from it.		109
China and the U.S. are the two largest importers of oil. They are the two largest emitters of carbon.		110
If the financial system collapses, it's really, really hard to put it back together again.		111
Buying a home today is a complex process, but that in no way excuses home buyers from their obligation for due diligence.		112
What I've said repeatedly is, 'I think the auto industry is a very important industry.'		113
I've been through periods of stress, turbulence in the market for over the course of my career, various times, and never in any of those other periods have we had the advantage of a strong economy underpinning the markets.		114
Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.	Architecture	115
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.		116
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.		117
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.		118
One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.		119
I didn't get the charm gene.		120
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.		121
Regulation needs to catch up with innovation.		122
One of the things I enjoy the most is fishing.		123
The Chinese have done some extraordinary things in terms of the investments they've made in alternative sources of energy.		124
China needs a currency that reflects underlying economic fundamentals.		125
China saves too much, produces too much, sells too much to Americans and consumes too little.		126
Anticompetitive practices hurt Chinese private firms nearly as much as foreign ones.		201
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.		202
A Fed loan to Lehman Brothers would not have prevented a bankruptcy.		203
When our markets work, people throughout our economy benefit - Americans seeking to buy a car or buy a home, families borrowing to pay for college, innovators borrowing on the strength of a good idea for a new product or technology, and businesses financing investments that create new jobs.		204
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.		205
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.		206
I have relied on prayer for health care all of my life.		207
From the beginning of time, we've had financial crises. People always blame the banks and for good reason. When you look for the root causes, they're almost always failed government policies.		208
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.		209
We've had crooks from the beginning of time... it's always very interesting and troubling why good people do bad things.		210
I think all governments engage in intelligence gathering vis-a-vis other governments.	Intelligence	211
As I talk with the Chinese on currency, I encourage them to move much more quickly with opening up their capital markets to competition, because I don't believe the world is going to give them as much time as they would like.		212
Illiquid asset purchases are all about capital and encouraging private capital to come in.		213
India is one of the world's largest and most peaceful states with advanced nuclear technologies and has been isolated from the rest of the world on nuclear issues.		214
For decades, Indians have immigrated to the United States, joined our communities, and raised their families while maintaining their cultural heritage.		215
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.		216
Non-bank financial institutions provide credit that is essential to U.S. businesses and consumers.		217
The U.S. and China need to take steps - mostly individually, sometimes together - that will have the mutually beneficial effect of supporting and sustaining economic growth.		218
Too often, we restrict trade that would create U.S. jobs and is in our national interest.		219
Every global concern - economic, environmental or security-related - can be addressed more effectively when the U.S. and China work together.	Environmental	220
Foreclosure is to no one's benefit. I've heard estimates that mortgage investors lose 40 to 50 percent on their investment if it goes into foreclosure.		221
If you've got a bazooka, and people know you've got it, you may not have to take it out.		222
I never once considered that it was appropriate to put taxpayer money on the line in resolving Lehman Brothers.		223
In China, export lobbies have fought for policies that favor their interests and limit foreign competition.		224
It is the policy of the federal government to use all resources at its disposal to make our financial system stronger.		225
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.		226
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.		301
When the economy is growing, there's a lot that can be done to deal with the deficit.		302
I've never been antiregulation. I've always believed that raw, unregulated capitalism doesn't work.		303
As a Christian Scientist, I don't go to doctors and get diagnoses.		304
I'm telling you that there is no silver bullet to keep home prices from going down or to prevent all foreclosures.		305
Many of the Western democracies - including the U.S. - have a problem that voters want benefits they don't want to pay for.		306

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