Quotes from Henry Paulson

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.

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

When you look at territorial disputes, there are good arguments on any sides. I think it's important that we don't take sides on legitimacy.

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

Illiquid asset purchases are all about capital and encouraging private capital to come in.

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.

We don't have the necessary laws or powers to deal with failing non-bank institutions. If they're a big bank, the depositor has deposit insurance, and the regulators can wind them down without throwing them into bankruptcy.

One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.

I didn't get the charm gene.

We've had crooks from the beginning of time... it's always very interesting and troubling why good people do bad things.

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.

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

I've never been antiregulation. I've always believed that raw, unregulated capitalism doesn't work.

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've long believed the environmental issue is an economic issue and a political issue. The three are entwined. You can't build prosperity on any basis other than a long-term basis, and you can't do that if you don't have a healthy environment.

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.

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.

Moral hazard is something I don't take lightly.

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.

I grew up on a working farm. It was small, a hundred acres, but we had cows and pigs and chickens and sheep and a vegetable garden. I spent hours pulling weeds, hoeing, feeding the horses, cleaning out the stalls. My dad was a tough taskmaster. I always worked, but we also had fun.

When the financial system works as it should, money and capital flow to and from households and businesses to pay for home loans, school loans, and investments to create jobs.

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.

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

Regulation needs to catch up with innovation.