"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."
"When I was young I thought that money was the most important thing in life now that I am old I know that it is."Timothy Geithner on Oscar Wilde
"A little thought and a little kindness are often worth more than a great deal of money."Timothy Geithner on John Ruskin
"Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants."Timothy Geithner on Benjamin Franklin
"The lack of money is the root of all evil."Timothy Geithner on Mark Twain
"Honesty is the best policy - when there is money in it."Timothy Geithner on Mark Twain
"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."
"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."
"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."
"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."
x Share us on Facebook