I supported some very, very objectionable things in terms of bailouts or rescues, but I did it not for Wall Street, but for the American people.
I happen to think that global slowdown, the slowdown in investment, strengthening dollar probably provide more of a headwind than we get from the decline in oil prices.
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.
Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.
Large financial institutions in this country will always play a role that is essential to our economic growth. But they must only be permitted to grow and interconnect, throughout our economy, under careful oversight and with a mechanism for allowing those connections to be broken safely.
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.
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.
The country is polarized. And I think part of it - it is not just social media. We get our facts from different places. People self-select with so many different cable channels and so many sources. I think that is a huge problem.
I was secretary of the Treasury when the credit bubble burst, so I think it's fair to say that I know a little bit about risk, assessing outcomes, and problem-solving.
Illiquid asset purchases are all about capital and encouraging private capital to come in.
I never once considered that it was appropriate to put taxpayer money on the line in resolving Lehman Brothers.
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.
Indian-Americans are physicians, engineers, CEOs, professors, teachers, entrepreneurs. They are a vital part of the United States' economic and social fabric. Because of this long history, the bonds among our people and our cultures will remain strong.
I would come to New York, work, and then get out of New York. I didn't go out to dinner with other people on the Management Committee. I didn't socialize. I didn't politick.
The Fed has neither the clear statutory authority nor the mandate to anticipate and deal with risks across our entire financial system.
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 believe some of the tensions the U.S. has had with Russia and that the Europeans have had with Russia... China is taking advantage of some of those dealings.
When I left the Treasury, there was a poll that showed - and I don't remember the numbers exactly right - something like 90% of the people were against TARP. It prevented a disaster, but you don't get credit for a disaster that people don't see.
Let's not forget, what TARP did allowed us to move overnight and put capital into hundreds of banks, and that money came back plus $32 billion.
Taxpayer money should not have to be spent to save a misguided and mismanaged enterprise.
