Timothy Geithner Quotes

A collection of quotes by Timothy Geithner.

Timothy Geithner is a former American public servant who served as the 75th U.S. Secretary of the Treasury from 2009 to 2013. Born on August 18, 1961, in Brooklyn, New York, Geithner played a significant role in managing the U.S. financial crisis during his tenure, implementing policies aimed at stabilizing the economy. Prior to his role as Secretary of the Treasury, Geithner held various positions at the Federal Reserve Bank of New York, including serving as its president from 2003 to 2009. He has also worked for the International Monetary Fund.

And I think it's a prudent, responsible way, given the scale

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

This crisis exposed very significant problems in the financi

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

There is a basic lesson on financial crises that governments

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

We judged that a sudden, disorderly failure of Bear would ha

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

Some think that by preparing to deal with crises you make th

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

I personally believe that there's going to be a good case fo

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