Timothy Geithner Quotes & Sayings (Page 3)

“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.”

“The plausible outcomes range from the gradual and benign to the more precipitous and damaging.”

“Although this crisis in some ways started in the United States, it is a global crisis. We bear a substantial share of the responsibility for what has happened, but factors that made the crisis so acute and so difficult to contain lie in a broader set of global forces that built up in the years before the start of our current troubles.”

“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.”

“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.”

“Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through.”

“This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.”