A Q & A with Henry Paulson

McClatchy NewspapersOctober 8, 2007 


Treasury Secretary Henry Paulson.

CHUCK KENNEDY — Chuck Kennedy / MCT

Excerpts from an interview with Treasury Secretary Henry Paulson:

Q: What’s been unexpected? A: “The thing that’s surprised me about my job is I’ve thought about my role in preserving the safety and soundness of the financial system, and that’s very important, but in today’s world there’s the third element of the security of the financial system … the Treasury secretary has a very important role to play in that regard, both in this country and around the world.”

Q: What’s been most satisfying? A: I had a first-rate team of people working with me at Goldman Sachs, and I have a first-rate team (at Treasury). I would say that was my biggest trepidation … because I didn’t have a clear picture of the team I would be working with at Treasury.

Q: How do you explain today’s stock market? A: Markets go up and markets go down. I look to the economy and I believe we have a healthy economy, but I continue to believe that that the housing downturn and the credit-market turbulence are going to extract a penalty to growth going forward.

Q: Do you talk with Bob Rubin, a former Goldman Sachs CEO and former Treasury secretary? A: I’ve talked with Bob extensively before coming down here, and I still go to him for advice, and he’s been very helpful in terms of advice. The one thing he said to me, which I think I have taken (to heart) is, 'Don’t personalize anything.'”

McClatchy Newspapers 2007

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