The government can help, but we need to make this transition now to a recovery led by private investment, private.
More Quotes from Timothy Geithner:
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.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
The choice is between which mistake is easier to correct: underdoing it or overdoing it.
Timothy Geithner
Most consequential choices involve shades of gray, and some fog is often useful in getting things done.
Timothy Geithner
The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.
Timothy Geithner
Monetary policy itself cannot sensibly be directed at reducing imbalances.
Timothy Geithner
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