Henry Paulson
Henry Paulson
Henry "Hank" Merritt Paulson, Jr.is an American banker who served as the 74th Secretary of the Treasury. He had served as the Chairman and Chief Executive Officer of Goldman Sachs, and is now a fellow at the Harris School of Public Policy Studies and the chairman of the Paulson Institute at the University of Chicago, which he founded in 2011 to promote sustainable economic growth and a cleaner environment around the world, with an initial focus on the United States...
NationalityAmerican
ProfessionPolitician
Date of Birth28 March 1946
CityPalm Beach, FL
CountryUnited States of America
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.
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.
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.
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.
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.
The most pressing and significant problems in the global economy are unsustainable structural issues with regard to the E.U. - fiscal deficits and the structure of the E.U. itself.
The worst is likely to be behind us
As a child, I could beat most kids in sprints, but overall, wrestling was the most natural sport for me. In fact, I was a pretty good high school wrestler. I was unusually quick and strong.
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.'
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.
If the financial system collapses, it's really, really hard to put it back together again.
We've all got to work to restore business confidence...but I believe that longer term we may look at Enron as being a positive as opposed to a negative, ... It may lead to greater transparency.
We are taking this step to secure permanent capital to grow; to share ownership broadly among our employees now and through future compensation; and to permit us to use publicly traded securities to finance strategic acquisitions that we may elect to make in the future.
Weakness in the capital markets, compounded by an erosion of corporate and investor confidence, has depressed activity in a number of our most important businesses, ... While we have seen some encouraging economic data of late, the current environment remains very challenging.