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...”

“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.”

“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, feas...”

“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 econo...”

“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.”

“The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery a...”

“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 spe...”

“Financial crises require governments.”

“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.”

“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.”

“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 ro...”

“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.”

“We will not support returning Fannie and Freddie to the role they played before conservatorship, where they fought to take market share from private competitors while enjoying the privilege...”

“The choice is between which mistake is easier to correct: underdoing it or overdoing it.”

“The government can help, but we need to make this transition now to a recovery led by private investment, private.”

“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 we...”

“Monetary policy itself cannot sensibly be directed at reducing imbalances.”