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" 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. "

Henry Paulson

Create

Price

Development

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" I was secretary of the Treasury when the credit bubble burst, so I think it's fair to say that I know a little bit about risk, assessing outcomes, and problem-solving. "

" I can't help but think what would have happened if a divisive character such as Trump were president during the 2008 financial crisis, at a time when leadership, compromise, and careful analysis were critical. "

" I see nothing easy in Washington. I see either analytically simple things that are politically complex or those that are politically complex and analytically complex. I mean, look at immigration reform, you know? It is, I think, analytically easy, but politically very, very complex and very difficult. "

" I want to remind you of one thing, which is, when I look around the world and look at the long-term economic fundamentals we have in this country, I think they compare favorably with what I see in any major developed country in the world. "

" If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution. "

" There's a great lack of financial literacy and understanding in this nation, even among college-educated people. "

" I was secretary of the Treasury in 2008. In that role, I had the privilege to work with many talented men and women in government and the private sector who labored to pull our nation back from the brink of disaster. "

" I think history shows that countries have to have some kind of a threshold level of economic success before they begin to have the means and the will to focus on the environment. "

" I supported some very, very objectionable things in terms of bailouts or rescues, but I did it not for Wall Street, but for the American people. "

" As we work to promote greater economic opportunity for the American people, we must always remember that the American economy is deeply integrated with the global economy. That brings challenges but even greater opportunities. "

" An AIG failure would have been devastating to the financial system and to the economy. "

" There is big resistance from vested interests in China that don't want to open up to competition. "

" I've always said to everyone that ever worked for me, if you get too dug in on a position, the facts change, and you don't change to adapt to the facts, you will never be successful. "

Henry Paulson

Change

Facts

" 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. "

Henry Paulson

Risk

Pay

" A study by Treasury economists estimated that a country with a tax rate one percentage point lower than another country's attracts 3 percent more capital. It's not surprising then, that average OECD corporate tax rates have trended steadily downward. "

" China's growth and stability is a vital issue for all nations. "

" 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. "

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

" In all my life, I've been trained that when there's a big problem, you run toward it. "

" Moral hazard is something I don't take lightly. "

" 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. "

" I happen to think that global slowdown, the slowdown in investment, strengthening dollar probably provide more of a headwind than we get from the decline in oil prices. "

Henry Paulson

Think

Oil

" When you run a company, you want to hand it off in better shape than you found it. In the same way, just as we shouldn't leave our children or grandchildren with mountains of national debt and unsustainable entitlement programs, we shouldn't leave them with the economic and environmental costs of climate change. "

" Illiquid asset purchases are all about capital and encouraging private capital to come in. "

" The income disparity is a huge issue. And I think that the only solution to this - there is no easy solution - are fundamental changes. That the world is changing quicker than our policies are changing. And we need the kinds of policies that will let us have a competitive economy going forward. "

" Let's not forget, what TARP did allowed us to move overnight and put capital into hundreds of banks, and that money came back plus $32 billion. "

" To restore confidence in our markets and our financial institutions so they can fuel continued growth and prosperity, we must address the underlying problem. The federal government must implement a program to remove these illiquid assets that are weighing down our financial institutions and threatening our economy. "

" In pursuing economic growth, India and the United States share similar values and similar challenges. We understand that the global economy is here to stay. To keep growing and leading the world in innovation and opportunity, the United States and India must trade freely, openly, and according to the principles of the global marketplace. "