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

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" When I worry about risks, I worry about the biggest ones, particularly those that are difficult to predict - the ones I call small but deep holes. While odds are you will avoid them, if you do fall in one, it's a long way down and nearly impossible to claw your way out. "

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

" The cheapest and cleanest energy is the energy you don't use. "

" I grew up with a strong set of values - and one was never judging someone by how much money they had. "

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

" I'd have liked to have been another Faulkner, of course. "

" If the only way you can do well is working more hours than someone else, you're going to lose out because there's always going to be someone who is going to work more. "

" 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 look forward to the day when China has a truly market-determined solution... To get there, you need to have a currency that is market-determined, an open capital market, and you are going to need a competitive, open financial system. "

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

" The idea of being Treasury secretary in the abstract appealed to me, but my initial inclination was that it wasn't right for me to take that step. "

" I've long believed the environmental issue is an economic issue and a political issue. The three are entwined. You can't build prosperity on any basis other than a long-term basis, and you can't do that if you don't have a healthy environment. "

" I think it is asking a lot for regulators to be perfect - because they won't be. "

" As a steward of the U.S.economy and financial systems, the Treasury has helped lay the groundwork for the American economy to become a model of strength, flexibility, dynamism, resiliency. This is a system that generates growth, creates jobs and wealth, rewards initiative, and fosters innovation. "

" 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. "

" 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. "

" I would come to New York, work, and then get out of New York. I didn't go out to dinner with other people on the Management Committee. I didn't socialize. I didn't politick. "

" I never cared about money. When I was at school, I never wanted a car. I was focused on sports, studies, camping, being outdoors. "

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

" It's better to have the taxpayer pay for the losses than have the United States of America become an economic wasteland. If the financial system collapses, it's really, really hard to put it back together again. "

" Complexity and interconnectedness matter as much as size in assessing risk in banking. "

" 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. "

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

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

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

" 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. "

" 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. "

" 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. "

" 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. "

" Regulation needs to catch up with innovation. "