Henry Paulson quotes:

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.

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.

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.

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.

The Chinese have done some extraordinary things in terms of the investments they've made in alternative sources of energy.

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.

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

We've had crooks from the beginning of time... it's always very interesting and troubling why good people do bad things.

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.

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.

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.

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.

For decades, Indians have immigrated to the United States, joined our communities, and raised their families while maintaining their cultural heritage.

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

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

If the financial system collapses, it's really, really hard to put it back together again.

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.

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.

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

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

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.

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

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.

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.

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

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

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

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.

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.

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

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.

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.

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

Regulation needs to catch up with innovation.

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.'

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.

There is a very real danger that financial regulation will become a wolf in sheep's clothing.

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

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

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.

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.

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

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.

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.

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

Non-bank financial institutions provide credit that is essential to U.S. businesses and consumers.

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

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

China needs a currency that reflects underlying economic fundamentals.

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

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

I didn't get the charm gene.

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

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

I see the underlying economy as being very healthy,

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.

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.

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

One of the things I enjoy the most is fishing.

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.

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.

The worst is likely to be behind us

There are some things that you can work on immediately.

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

There's a lot of things we could do better.

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

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.

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