American - Public | March 28, 1946 -
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.
Henry Paulson
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One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.
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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.
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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.
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If the financial system collapses, it's really, really hard to put it back together again.
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Regulation needs to catch up with innovation.
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When the economy is growing, there's a lot that can be done to deal with the deficit.
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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.
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I've always said, 'I don't want to be irrelevant.'
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I've never been antiregulation. I've always believed that raw, unregulated capitalism doesn't work.
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I didn't get the charm gene.
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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.
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