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
Select Timothy Geithner Quotations
Financial crises require governments.
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
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.
Timothy Geithner
The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.
Timothy Geithner
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.
Timothy Geithner
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 as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.
Timothy Geithner
All Timothy Geithner Quotations
Words
Access,
Bear,
Broader,
Brought,
Companies,
Consequences,
Credit,
Disorderly,
Downward,
Economy,
Equity,
Failure,
Financial,
Functioning,
Further,
Home,
Households,
Judged,
Less,
Lower,
Pressure,
Prices,
Severe,
Sudden,
System,
Unpredictable,
Values,
Would
Definitions
Access,
Bear,
Brought,
Companies,
Credit,
Disorderly,
Downward,
Economy,
Equity,
Failure,
Financial,
Further,
Home,
Judged,
Less,
Lower,
Pressure,
Severe,
Sudden,
System,
Would
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