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" Size is the enemy of excellence in investment banking, particularly when you are trying to put together two different cultures. "

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" After I left Treasury, I think in some ways it was harder to sit there and be writing my book... listening to all the criticism. "

" 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 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. "

" 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. "

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

" No matter how the financial system is set up, no matter what the economic system is, as long as you have people, you're going to have financial crises; you're going to have bubbles that manifest themselves in the financial system. "

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

" 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. "

" We have institutions that have been allowed to become too big to fail because we had all kinds of flaws in our financial infrastructure, in the whole way over-the-counter derivatives work. "

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

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

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

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

" 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.' "

" 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. "

" 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. "

" 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. "

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

" Every good businessman or woman carefully analyzes all the available facts before making a decision. "

" 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. "

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

" One of the things I enjoy the most is fishing. "

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

" 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. "

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

" From the time the kids were in upper grade school and middle school, we took trips over the Christmas break to nature-focused places, such as the Okefenokee Swamp and Cumberland Island in Georgia; Costa Rica; Maho Bay campground in St. John, Virgin Islands; the llanos of Venezuela; the southern coast and highlands of Belize. "

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

" 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. "

" 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. "

" All of us would like to have our children and their grandchildren grow up with at least the level of prosperity that we had. In the U.S., we seem to be very selfish because the older generation is not making the sacrifices. "