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"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."
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"I'm always worried about my money for some reason."
"Other than that one year, Salon has been very cautious about the way it spends money. For instance, since last year, we've had virtually no marketing budget. It's just word of mouth. And our circulation continues to grow that way by breaking news stories."
"The second most dangerous thing about money is that it leaves most of the people who have a lot of it with the unshakable belief that they are intelligent and well informed. The most dangerous thing about it is that it leaves most of the people who do not have a lot of money with the very same belief."
"It is unfortunately none too well understood that, just as the State has no money of its own, so it has no power of its own."
"We need a complete ban on soft money, which is sort of an enveloping problem, and a ceiling on the amount of money that can be spent on a given race."
"You know, if you look back in the 1930s, the money went to infrastructure. The bridges, the municipal buildings, the roads, those were all built with stimulus money spent on infrastructure. This stimulus bill has fundamentally gone, started out with a $500 rebate check, remember. That went to buy flat-screen TVs made in China."
Explore more quotes by Timothy Geithner
"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."
"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."
"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."
"The government can help, but we need to make this transition now to a recovery led by private investment, private."
"Most consequential choices involve shades of gray, and some fog is often useful in getting things done."
"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."
"The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting."
"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."
"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."
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