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.
More Quotes from 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
To do otherwise would run the risk that monetary policy would be too accommodative, pulling resources from the future in a way that would alter the trajectory for the growth of the capital stock, perhaps amplifying the imbalances, and compromising the price stability.
Timothy Geithner
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.
Timothy Geithner
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.
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
But what we're determined to do, and what the reforms will do is to make sure this system goes back to its core purpose of taking the savings of Americans and from investors around the world and allocating those to people with an idea, not just the largest companies in the country, but to small businesses with an idea and a plan for growing.
Timothy Geithner
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Gratitude is the inward feeling of kindness received. Thankfulness is the natural impulse to express that feeling. Thanksgiving is the following of that impulse.
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Besides the practical knowledge which defeat offers, there are important personality profits to be taken.
William Moulton Marston