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.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
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.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
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.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
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.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
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.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
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.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to be competitive. It is not a viable, feasible strategy, and we will not engage in it.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!
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.
quote by Timothy Geithner
Added by Lucian Velea
Comment! | Vote! | Copy!