Words matter. These are the best Timothy Geithner Quotes, and they’re great for sharing with your friends.
Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.
This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.
The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.
Monetary policy itself cannot sensibly be directed at reducing imbalances.
We will not support returning Fannie and Freddie to the role they played before conservatorship, where they fought to take market share from private competitors while enjoying the privilege of government support.
Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through.
The choice is between which mistake is easier to correct: underdoing it or overdoing it.
Financial crises require governments.
As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past.
The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we’re prepared to make a commitment today to bring down our future deficits.
The government can help, but we need to make this transition now to a recovery led by private investment, private.
The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting.
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.
Most consequential choices involve shades of gray, and some fog is often useful in getting things done.
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.
