#con

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. ↗

— Timothy Geithner

#bear #broader #brought #companies #consequences

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

#basic #causing #crises #damage #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. ↗

— Timothy Geithner

#although #bear #before #broader #built

As financial markets continue to broaden and deepen, the behavior of asset prices will play an important role in the formulation of monetary policy going forward, perhaps a more important role than in the past. ↗

— Timothy Geithner

#behavior #broaden #continue #deepen #financial

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. ↗

— Timothy Geithner

#concentrated #crises #financial #financial crises #financial system

Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through. ↗

— Timothy Geithner

#before #confluence #economic #financial #hit

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. ↗

— Timothy Geithner

#better #contrary #crises #deal #i

You just have to be yourself and go full with confidence and be courageous. ↗

— Gabby Douglas

#confidence #courageous #full #go #just

He asked if I was a songwriter, and I said yeah, that I was in town because I'd won this contest. He said, okay, then he was gonna play me his hit, and started singing 'When it's time to relax, one beer stands clear... ' ↗

— Arthur Godfrey

#because #beer #clear #contest #gonna

I liked the way they treated the first, second, and third place finishers equally. It was an amazing year. I only entered two song contests this year; I won one and placed second in the other. And I entered each of them a day or two before the deadline. ↗

— Arthur Godfrey

#before #contests #day #deadline #each