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.
More Quotes from Timothy Geithner:
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.Timothy Geithner
I think we're not going to preserve Fannie and Freddie in anything like their current form. We're going to have to bring fundamental change to that market.
Timothy Geithner
When policy-makers have already witnessed a significant move in asset values, and are confident in what that move means for the outlook, it should be prepared to adjust policy accordingly. The central bank must be responding to its assessment of what an already observed movement in asset prices will mean for output and inflation.
Timothy Geithner
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.
Timothy Geithner
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.
Timothy Geithner
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.
Timothy Geithner
Readers Who Like This Quotation Also Like:
Based on Topics: Danger & Risk Quotes, Finance Quotes, Money & Wealth QuotesIs it possible that the portrait of the divine Son of God is an exaggeration, at best, or a complete fabrication, at worst, of the original Jesus?
John Clayton
If you take out the killings, Washington actually has a very very low crime rate.
Marion Berry
Oppression is something that one group of people commits against another group specifically because of a threatening characteristic shared by the latter group.
Robin Morgan