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"Financial crises require governments."
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"Money is a very beautiful blessing until it gets in the wrong hands."
"I strongly support tax relief for the middle class."
"Some people will each start investing more of their salary on 'their' house and spending less of it on 'their' car or cars only when they start being able to take 'their' house to work, funerals, weddings, etc."
"Viacom's results for the first quarter put the company on a fast track for another record year in 2004."
"In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms."
"I wanted to make Jerusalem as feature film. But we couldn't finance it only through theatrical release, we couldn't get all the money we needed. We had to get some money from television. So we said, ok, let's do it both ways. So we did it in four parts."
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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