The government can help, but we need to make this transition now to a recovery led by private investment. Timothy Geithner More Quotes by Timothy Geithner More Quotes From Timothy Geithner Some think that by preparing to deal with crises you make them more likely. I think the wiser judgment is the contrary. In this area at least, if you want peace or stability, it's better to prepare for war or instability Timothy Geithner want war thinking 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 economic-inequality educational commitment 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. Timothy Geithner typical usual business 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 consequences failure pressure home 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 problems crisis innovation knowledge 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 lie start difficult responsibility The government can help, but we need to make this transition now to a recovery led by private investment, private. Timothy Geithner help need investment government 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 purpose country people world I personally believe that there's going to be a good case for the government preserving some type of guarantee to make sure that people have the ability to borrow to finance a house even in a very damaging recession. I think there's going to be a good case for that. Timothy Geithner good finance believe people 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 anything like think change 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 of government support. Timothy Geithner returning will support government 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, feasible strategy, and we will not engage in it. Timothy Geithner understand people way world
