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" Xi Jinping is a very strong and ambitious leader who is looking to make a lot of changes in China. He is not looking to follow a Western model based on universal suffrage. That is for sure. "

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" 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. "

Henry Paulson

Change

Mountains

Better

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

" The Chinese have done some extraordinary things in terms of the investments they've made in alternative sources of energy. "

" U.S. exports to China have more than quintupled since China entered the WTO and have grown more quickly than imports. In fact, China is America's fastest-growing export market. "

Henry Paulson

Market

China

" I've been through periods of stress, turbulence in the market for over the course of my career, various times, and never in any of those other periods have we had the advantage of a strong economy underpinning the markets. "

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

" 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. "

" 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

" If AIG collapsed, it would have buckled our financial system and wrought economic havoc on the lives of millions of our citizens. "

" 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 think the Chinese are wise. After all, they know the U.S. is in a very different league than Russia. The U.S. is the major power in the world, and the US-China relationship... is very important to global stability, to sustain global economic growth. "

" My preference is for the Federal Reserve to be the systemic risk regulator, because the responsibility for identifying and limiting potential problems is a natural complement to its role in monetary policy. "

" 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. "

" Sovereign wealth fund money should be welcomed. The only way not to welcome that money is when it's politically driven. "

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

" We need a new tax system. We need entitlement reform. We need immigration reform. These are not easy things. But it is going to take our political system working better. "

" As our relationship with China grows and matures, tensions will naturally emerge. "

" Regulation needs to catch up with innovation. "

" 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 didn't get the charm gene. "

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

" 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. "

" 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 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. "

" A Fed loan to Lehman Brothers would not have prevented a bankruptcy. "

" 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.' "

" When it comes to the presidency, I will not vote for Donald Trump. "

" 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. "

" 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. "

" 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. "