I'm telling you that there is no silver bullet to keep home prices from going down or to prevent all foreclosures.
— Henry Paulson
Buying a home today is a complex process, but that in no way excuses home buyers from their obligation for due diligence.
As a Christian Scientist, I don't go to doctors and get diagnoses.
I've never been antiregulation. I've always believed that raw, unregulated capitalism doesn't work.
We've had crooks from the beginning of time... it's always very interesting and troubling why good people do bad things.
When the economy is growing, there's a lot that can be done to deal with the deficit.
As Americans, we shouldn't like bailouts. Where I come from, if someone takes a risk and they're going to make the profit from that risk, they shouldn't have the taxpayer pay for the losses.
One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.
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.
It is the policy of the federal government to use all resources at its disposal to make our financial system stronger.
China saves too much, produces too much, sells too much to Americans and consumes too little.
I never once considered that it was appropriate to put taxpayer money on the line in resolving Lehman Brothers.
There is a very real danger that financial regulation will become a wolf in sheep's clothing.
The U.S. and China need to take steps - mostly individually, sometimes together - that will have the mutually beneficial effect of supporting and sustaining economic growth.
As the Indian government has embraced greater economic openness, the creativity and expertise of the Indian workforce has been unleashed onto the world economic stage.
India is a vibrant nation whose strength lies in its commitment to equal rights and to speech, religious and economic freedoms that enrich the lives of all citizens. India is not only the world's largest democracy; it is also a secular, pluralistic society committed to inclusive growth.
China needs a currency that reflects underlying economic fundamentals.
I have always tried to live by the philosophy that when there is a big problem that needs fixing, you should run towards it, rather than away from it.
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.
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.
I've always said, 'I don't want to be irrelevant.'
In just about every area of society, there's nothing more important than ethics.
Regulation needs to catch up with innovation.
A state-based regulatory system is quite burdensome. It allows price controls to create market distortions. It can hinder development of national products and can directly impact the competitiveness of U.S. insurers.
When our markets work, people throughout our economy benefit - Americans seeking to buy a car or buy a home, families borrowing to pay for college, innovators borrowing on the strength of a good idea for a new product or technology, and businesses financing investments that create new jobs.
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.
China and the U.S. are the two largest importers of oil. They are the two largest emitters of carbon.
In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
If you've got a bazooka, and people know you've got it, you may not have to take it out.
Every global concern - economic, environmental or security-related - can be addressed more effectively when the U.S. and China work together.
I'm a straightforward person. I like to be direct with people.
For decades, Indians have immigrated to the United States, joined our communities, and raised their families while maintaining their cultural heritage.
Illiquid asset purchases are all about capital and encouraging private capital to come in.
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.
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 have relied on prayer for health care all of my life.
I didn't get the charm gene.
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.
One of the things I enjoy the most is fishing.
If the financial system collapses, it's really, really hard to put it back together again.
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.
A Fed loan to Lehman Brothers would not have prevented a bankruptcy.
Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.
Anticompetitive practices hurt Chinese private firms nearly as much as foreign ones.
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.
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.
Too often, we restrict trade that would create U.S. jobs and is in our national interest.
Non-bank financial institutions provide credit that is essential to U.S. businesses and consumers.
India is one of the world's largest and most peaceful states with advanced nuclear technologies and has been isolated from the rest of the world on nuclear issues.
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.
