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.
More Quotes from Timothy Geithner:
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.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
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.
Timothy Geithner
Most consequential choices involve shades of gray, and some fog is often useful in getting things done.
Timothy Geithner
Monetary policy itself cannot sensibly be directed at reducing imbalances.
Timothy Geithner
Financial crises require governments.
Timothy Geithner
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