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"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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"If you only read the books that everyone else is reading, you can only think what everyone else is thinking."
"It is of interest to note that while some dolphins are reported to have learned English - up to fifty words used in correct context - no human being has been reported to have learned dolphinese."
"If we let ourselves, we shall always be waiting for some distraction or other to end before we can really get down to our work. The only people who achieve much are those who want knowledge so badly that they seek it while the conditions are still unfavorable. Favorable conditions never come."
"The greatest achievements of the human mind are generally received with distrust."
"I who know many present things by my art," replied the Hermit with a smile, "have yet little knowledge of things future. Therefore I do not know whether any man or woman or beast in the whole world will be alive when the sun sets tonight. But be of good hope. The damsel is likely to live as long as any her age."
"Have books 'happened' to you? Unless your answer to that question is 'yes,' I'm unsure how to talk to you."
"Knowing more than someone does not necessarily mean that you know every single thing they know."
Explore more quotes by Timothy Geithner
"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."
"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."
"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."
"We will not support returning Fannie and Freddie to the role they played before conservatorship, where they fought to take market share from private competitors while enjoying the privilege of government support."
"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."
"The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move."
"The rest of the world needs the US economy and financial system to recover in order for it to revive. We remain at the center of global economic activity with financial and trade ties to every region of the globe."
"But what we're determined to do, and what the reforms will do is to make sure this system goes back to its core purpose of taking the savings of Americans and from investors around the world and allocating those to people with an idea, not just the largest companies in the country, but to small businesses with an idea and a plan for growing."
"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."
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