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" 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. "

Henry Paulson

Work

Way

Flaws

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" Frankly I'm a bit concerned when it comes to U.S.-China relations. "

" I'm a straightforward person. I like to be direct with people. "

Henry Paulson

People

Person

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

" I'm telling you that there is no silver bullet to keep home prices from going down or to prevent all foreclosures. "

" It's hard to punish and save the banks at the same time. "

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

" I prefer to work at the policy level, on trying to fix flawed government policies. "

" 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. "

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

" In just about every area of society, there's nothing more important than ethics. "

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

" 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. "

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

" Payment systems are critically important for overall market stability. On a typical business day, U.S. payment and settlement systems settle transactions valued at over $13 trillion. "

" 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. "

" Simply put, a Trump presidency is unthinkable. "

" We must limit the perception that some institutions are either too big or too interconnected to fail. "

" 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. "

" 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. "

" 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

" I hate good press, and I abhor bad press. "

" When companies fail, shareholders bear the losses. It's just the way our system is supposed to work. "

" I don't take lightly ever putting the taxpayer on the line to support an institution. "

" I didn't get the charm gene. "

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

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

" 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. "

" When you're boiling in oil, in the middle of a crisis, the challenges are so consuming there is no time for anything else. "

" America is the land of opportunity. We need to be vigilant in ensuring that each and every American has the opportunity to acquire the skills to compete and to see those skills rewarded in the marketplace. "

" 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. "