Until we stem the housing correction, until the biggest part of that is behind us and we have more stability in housing prices, we're going to continue to have turmoil in the financial markets.

I've got to say our banking system is a safe and a sound one. And since the days when we've had federal deposit insurance in place, we haven't had a depositor who's got less than $100,000 in an account lose a penny. So the American people can be very, very confident about their accounts in our banking system.

Moral hazard is something I don't take lightly.

There's a great lack of financial literacy and understanding in this nation, even among college-educated people.

If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution.

I think it is asking a lot for regulators to be perfect - because they won't be.

I look forward to the day when China has a truly market-determined solution... To get there, you need to have a currency that is market-determined, an open capital market, and you are going to need a competitive, open financial system.

I do not believe the United States and the Americans are going to let Donald Trump become president... I think the challenge is Donald Trump, with his anti-China rhetoric and with his anti-trade rhetoric, is going to make the job for all of us more difficult going forward.

Xi Jinping is a very strong and ambitious leader who is looking to make a lot of changes in China. He is not looking to follow a Western model based on universal suffrage. That is for sure.

There is big resistance from vested interests in China that don't want to open up to competition.

When you run a company, you want to hand it off in better shape than you found it. In the same way, just as we shouldn't leave our children or grandchildren with mountains of national debt and unsustainable entitlement programs, we shouldn't leave them with the economic and environmental costs of climate change.

When I worry about risks, I worry about the biggest ones, particularly those that are difficult to predict - the ones I call small but deep holes. While odds are you will avoid them, if you do fall in one, it's a long way down and nearly impossible to claw your way out.

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.

There is a time for weighing evidence and a time for acting. And if there's one thing I've learned throughout my work in finance, government, and conservation, it is to act before problems become too big to manage.

I don't take lightly ever putting the taxpayer on the line to support an institution.

I've always said to everyone that ever worked for me, if you get too dug in on a position, the facts change, and you don't change to adapt to the facts, you will never be successful.

When companies fail, shareholders bear the losses. It's just the way our system is supposed to work.

In all my life, I've been trained that when there's a big problem, you run toward it.

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.

We need a new tax system. We need entitlement reform. We need immigration reform. These are not easy things. But it is going to take our political system working better.

The income disparity is a huge issue. And I think that the only solution to this - there is no easy solution - are fundamental changes. That the world is changing quicker than our policies are changing. And we need the kinds of policies that will let us have a competitive economy going forward.

The Fed has neither the clear statutory authority nor the mandate to anticipate and deal with risks across our entire financial system.

We must limit the perception that some institutions are either too big or too interconnected to fail.

The financial security of all Americans - their retirement savings, their home values, their ability to borrow for college, and opportunities for more and higher-paying jobs - depends on our ability to restore our financial institutions to sound footing.