What I've said repeatedly is, 'I think the auto industry is a very important industry.'

I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They're efficient. They're flexible.

Our overriding goal in restructuring our financial architecture should be that taxpayers never again have to save a failing financial institution.

I believe that the root cause of every financial crisis, the root cause, is flawed government policies

I understand how important the automakers are to America. And I understand a bankruptcy; a failure in that industry wouldn't be a good thing. It's something we should avoid.

In terms of the overall economy, we've got challenges and the big focus has got to be on recovery, on repair, and that's going to take a while.

There is a very real danger that financial regulation will become a wolf in sheep's clothing.