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"Monetary policy itself cannot sensibly be directed at reducing imbalances."
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"When you see how the President makes political or policy decisions, you see who he is. The essence of the Presidency is decision-making."
"In a constructive policy, there is 'adjust everywhere' and in a destructive policy, there is a policy of disadjustment."
"So, I'm lying on the couch and Laura walks in and I say, 'Free at last,' and she says 'You're free all right, you're free to do the dishes.' So I say, 'You're talking to the former president, baby,' and she said, 'consider this your new domestic policy agenda.'"
"Manufacturing and commercial monopolies owe their origin not to a tendency imminent in a capitalist economy but to governmental interventionist policy directed against free trade and laissez faire."
"Any intervention, such as that of the German Reichsbank in the Spring of 1923, in which only a small part of the increasing note-expansion was recovered by the banks through the sale of foreign bills, would necessarily be unsuccessful. Led by the idea of opposing speculation, inflationistic governments have allowed themselves to become involved in measures whose meaning is hardly intelligible. Thus at one time the importation of notes, then their exportation, then again both their exportation and importation, have been prohibited. Exporters have been forbidden to sell for their own country's notes, importers to buy with them."
"We cannot be any stronger in our foreign policy for all the bombs and guns we may heap up in our arsenals than we are in the spirit which rules inside the country. Foreign policy, like a river, cannot rise above its source."
"We must shift the energy policy debate in America with an increased focus on alternative and renewable fuels and Congress must pass meaningful alternative fuels and incentive programs to help move the U.S. away from dependence on foreign oil."
"Mbeki began to write a study of the workings of apartheid policy in the reserves - the areas set aside in law for African occupation - as early as 1959 and 1960."
"Without a good cultural policy, without adequate help, we will always have individualists, shooting stars who are rapidly forgotten or who stop painting for a more profitable occupation."
Explore more quotes by Timothy Geithner
"Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system."
"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."
"The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move."
"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."
"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."
"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."
"Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through."
"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."
"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."
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