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" Indian-Americans are physicians, engineers, CEOs, professors, teachers, entrepreneurs. They are a vital part of the United States' economic and social fabric. Because of this long history, the bonds among our people and our cultures will remain strong. "

Henry Paulson

People

Strong

Teachers

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

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

" The Fed has neither the clear statutory authority nor the mandate to anticipate and deal with risks across our entire financial system. "

" 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. "

" I grew up on a farm - I know the smell of horse manure. It does smell better than pig manure. "

" I hope to help the Indian government advance their economic reform agenda, which will benefit India's citizens and the world. "

" I've got to say our banking system is a safe and a sound one. And since the days when we've had federal deposit insurance in place, we haven't had a depositor who's got less than $100,000 in an account lose a penny. So the American people can be very, very confident about their accounts in our banking 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. "

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

" 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

" The financial security of all Americans - their retirement savings, their home values, their ability to borrow for college, and opportunities for more and higher-paying jobs - depends on our ability to restore our financial institutions to sound footing. "

" 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. "

" 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. "

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

" Until we stem the housing correction, until the biggest part of that is behind us and we have more stability in housing prices, we're going to continue to have turmoil in the financial markets. "

Henry Paulson

Behind

Going

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

" When I left the Treasury, there was a poll that showed - and I don't remember the numbers exactly right - something like 90% of the people were against TARP. It prevented a disaster, but you don't get credit for a disaster that people don't see. "

" 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. "

" 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. "

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

" I've never been antiregulation. I've always believed that raw, unregulated capitalism doesn't work. "

" 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.' "

" We don't have the necessary laws or powers to deal with failing non-bank institutions. If they're a big bank, the depositor has deposit insurance, and the regulators can wind them down without throwing them into bankruptcy. "

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

" 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. "

" 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. "

" 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. "

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

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

" It is important that China stop its over-reliance on municipal debt to finance infrastructure. I take comfort in the fact that China's leaders understand this. "