"I personally believe that there's going to be a good case for the government preserving some type of guarantee to make sure that people have the ability to borrow to finance a house even in a very damaging recession. I think there's going to be a good case for that."
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."Timothy Geithner on Henry Ford
"Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones."Timothy Geithner on Benjamin Franklin
"It is a kind of spiritual snobbery that makes people think they can be happy without money."Timothy Geithner on Albert Camus
"Part of your heritage in this society is the opportunity to become financially independent."Timothy Geithner on Jim Rohn
"Don't gamble take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it."Timothy Geithner on Will Rogers
"We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households."
"And I think it's a prudent, responsible way, given the scale of the emergency, the scale of the damage still facing America, that we finance these additional support for the unemployed as well as the support for small business. We think there's a good case for doing it now. We want to do it in an overall fiscally responsible way."
"This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk."
"There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy."
"Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability."
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