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"We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for the functioning of the broader financial system and the broader economy, with lower equity prices, further downward pressure on home values, and less access to credit for companies and households."
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"I was studying American politicians who were searching - allegedly - for American communists because it would put them on the front pages of the papers in their home towns."

"We improved the environment in which our children live, learn and play by decreasing crime and clamping down on abuse and violence in the home and on the streets."

"Having been let out of the barn once, I know I wouldn't be happy if I were home all the time."

"Home is anywhere that you know all your friends and all your enemies."

"The appreciative smile, the chuckle, the soundless mirth, so important to the success of comedy, cannot be understood unless one sits among the audience and feels the warmth created by the quality of laughter that the audience takes home with it."
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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