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. – 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. – Timothy Geithner
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, its better to prepare for war or instability. – Timothy Geithner
I personally believe that theres 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 theres going to be a good case for that. – Timothy Geithner
A civilization is a heritage of beliefs, customs, and knowledge slowly accumulated in the course of centuries, elements difficult at times to justify by logic, but justifying themselves as paths when they lead somewhere, since they open up for man his inner distance. – Antoine de Saint-Exupery
This is what I wanted. They tell me that London is the best field in history. I wanted to be part of that. Because everyone will be there it will be a wonderful challenge for me. You can see the best runners, how they look, how they run. For me to beat the best is what counts. – Haile Gebrselassie