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 crisiseconomyexpose Change image and share on social
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 basiccausecrisis share on social
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 abilityborrowcase share on social
The choice is between which mistake is easier to correct: underdoing it or overdoing it. Timothy Geithner choicecorrecteasy Change image and share on social
Most consequential choices involve shades of gray, and some fog is often useful in getting things done. Timothy Geithner choiceconsequentialfog Change image and share on social
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. Timothy Geithner bankcenterconcentrate Change image and share on social
Financial crises require governments. Timothy Geithner crisisfinancialgovernment Change image and share on social
The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move. Timothy Geithner advancealterasset Change image and share on social
Monetary policy itself cannot sensibly be directed at reducing imbalances. Timothy Geithner directimbalancemonetary Change image and share on social
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 areacontrarycrisis share on social
