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

For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.

One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.

U.S. exports to China have more than quintupled since China entered the WTO and have grown more quickly than imports. In fact, China is America's fastest-growing export market.

As a child, I could beat most kids in sprints, but overall, wrestling was the most natural sport for me. In fact, I was a pretty good high school wrestler. I was unusually quick and strong.

There are two issues that people sometimes confuse, but they're very closely related. There is the strength and the stability of the American financial system. And it's very important that that system remain stable and remain strong and lending is very important to consumers. Secondly, the economy. And what has gone on in financial system is impacting the economy. And as the economy is turning down, it is very important that lending continue to be available and be available to consumers. So what we're doing with this facility is to support - is to support consumer lending.

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.