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" 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. "

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

Henry Paulson

People

Why

Beginning

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

" When the economy is growing, there's a lot that can be done to deal with the deficit. "

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

" 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. "

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

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

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

" I didn't get the charm gene. "

" Many of the Western democracies - including the U.S. - have a problem that voters want benefits they don't want to pay for. "

" 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. "

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

" The Treasury Department has a critical role to play in helping to set the direction of a U.S. and global economy, a role that reaches back to America's founding. "

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

" As long as I can remember, I had a strong interest in fishing, and my parents, even though they had never fished or camped, took us on canoe camping trips in the wilderness of Quetico Provincial Park in Ontario, Canada, where I could fish to my heart's content. "

" 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. "

" China has a more assertive, proactive foreign policy as its interests are growing around the world. "

Henry Paulson

Growing

Policy

" Regulation needs to catch up with innovation. "

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

" 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. "

" There is a time for weighing evidence and a time for acting. And if there's one thing I've learned throughout my work in finance, government, and conservation, it is to act before problems become too big to manage. "

" 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. "

" Taxpayer money should not have to be spent to save a misguided and mismanaged enterprise. "

" 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. "

" Foreclosures are a significant problem; they're an economic problem. "

" 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. "

" Simply put, a Trump presidency is unthinkable. "

" I grew up on a working farm. It was small, a hundred acres, but we had cows and pigs and chickens and sheep and a vegetable garden. I spent hours pulling weeds, hoeing, feeding the horses, cleaning out the stalls. My dad was a tough taskmaster. I always worked, but we also had fun. "

" 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. "

" My focus is on the financial sector, on getting credit going, getting lending flowing. I can't imagine anything that would have a bigger stimulative impact. "