The plausible outcomes range from the gradual and benign to the more precipitous and damaging.
More Quotes from Timothy Geithner:
The choice is between which mistake is easier to correct: underdoing it or overdoing it.Timothy Geithner
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.
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
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
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
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Based on Keywords: benign, damaging, outcomes, plausible, precipitousHow strange that nature does not knock, and yet does not intrude!
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