Henry Paulson Quotes


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.


Citations

Paulson, Henry M. On the Brink: Inside the Race to Stop the Collapse of the Global Financial System. Business Plus, 2010.

Related Quotes

While Murphy may have believe this, his company would profit immensely of Chrysler would fail. 28 years later it was General Motors that required the bailout that was much larger than the Chrysler one. The GM executives had gotten over their philosophical objections.


There was a financial crisis in the country and the world when highly risky home mortgage loans defaulted leaving investors and speculators in mortgage-backed securities in a poor position. The investors had been reaping very high interest rates for their risky investments, but this was the first time that this form of risky investment had failed. The investors, of course were looking for a bailout from government. When the Bush administration failed to bail out investment bank, Lehman, there was a panic and the banking system of the country and much of the world froze up. Bush and his Secretary reversed their bailout of speculators policy and provided various assistants and bailouts to the very bankers and other investors who had caused the economic meltdown. The policy was continued by the Obama administration although the bailouts were just as distasteful to Obama as they were to Bush, but most economists agree that the two presidents very distasteful and unpopular bailout actions probably saved the nation from a massive depression. After being bailed out by the taxpayers, the Bankers then paid themselves exorbitant bonuses while the results of their management put 10 percent of the country out of work.


Henry Paulson
Henry Paulson
  • Born: March 28, 1946
  • Nationality: American
  • Profession: Public Servant

Henry Merritt "Hank" Paulson Jr. is an American banker who served as the 74th United States Secretary of the Treasury from 2006 to 2009. Prior to his role in the Department of the Treasury, Paulson was the chairman and chief executive officer (CEO) of Goldman Sachs.