Quote by Timothy Geithner

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.

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

Summary

This quote emphasizes the potential consequences of a sudden and chaotic collapse of Bear Stearns, a prominent financial institution. It suggests that such a failure would have had a ripple effect, negatively impacting the overall financial system and economy. This could lead to decreased stock prices, further decline in the housing market, and limited access to credit for both businesses and individuals. The quote highlights the concern that the collapse of one institution could potentially trigger a chain reaction of detrimental effects throughout the entire financial ecosystem.

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By Timothy Geithner

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