A Quote by Henry Paulson
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.
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I don't even know what that means. People who get credit have to get it from somewhere. Does a credit bubble mean that people save too much during that period? I don't know what a credit bubble means. I don't even know what a bubble means. These words have become popular. I don't think they have any meaning.
I've always felt that if I examine myself too much, I'll find out what I know and don't know, and I'll burst the bubble. I've gotten so lucky relying on my animal instincts, I'd rather keep a little bit of the animal alive.
I had been in the technology business for so long, I had seen the PC-bubble come and burst, I had seen the local area and wide area networking-bubble come and burst, it was no shock that the internet-bubble was going to burst.
When the secretary of treasury, the head of the central bank, the head of the FDIC (Federal Deposit Insurance Corp.), and the head of the New York Fed say, "We want you to do this because we think it's in the best interest of the United States of America," you know, we're like the Japanese. We're a little patriotic that way. We said, "Yes, sir!"
I don't know what a credit bubble means. I don't even know what a bubble means. These words have become popular. I don't think they have any meaning.
If all other risk factors are normal, and you exercise moderately, your risk of having high CRP is one in 2000, .. A person who is a little overweight, with blood fats and cholesterol a little elevated, maybe with a little bit of high blood pressure -- we didn't used to think that having several of these little risk factors were a big deal. But it is. These little risk factors add up in a way that is worse for you than one big risk factor.
I know I made plenty of mistakes in my tenure. But one of the things that you learn is to be very careful and to protect yourself down the road a little bit, which is to say you've got to think ahead and think where is the story going to go? What are all the possible outcomes? And how do I protect the president from unexpected twists and turns in the road?
The New York Times had a headline on its website - Trump Turning To Ultra Wealthy To Steer Economic Policy. This doesn't sound very populist to me. Today's commerce secretary, the names being talked about for treasury secretary, I think there will be populist talk but maybe no populist action.
It is well known that "problem avoidance" is an important part of problem solving. Instead of solving the problem you go upstream and alter the system so that the problem does not occur in the first place.
If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.
I used to look at composing music as problem solving. But as I get older, it's not about problem solving anymore. There are no solutions, because there are no problems. You just turn the tap and it flows out.
I would say it's more important who the treasury secretary is than who the vice president is. If you want to have a debate here, I'd like a debate between potential treasury secretaries than the vice presidential debate.
If we are going to remove someone, which I have no problem with doing, then let's do the 20, not the 10, the very first secretary of the Treasury, Alexander Hamilton.
There is a wall of myth around royals and A-list celebrities, and that makes us wonder what they are really like. We see them on magazine covers so often that we think we know them intimately, and we want to learn more. I like to burst that bubble a little.
I can say with confidence I know a fair bit about LSD.
If we got there and we looked up and we said, "You know what? Black folks are still doing a little bit worse off than whites, but it's not like it was 20 years ago," then we can have a discussion about how do we get that last little bit. But that's a high-class problem to have.
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