"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"

This quote by Timothy Geithner is referring to the monetary crisis of 2008. It highlights the truth that the crisis exposed significant defects in the financial systems of the United States and other major economies. The quote recommends that the monetary systems were not gotten ready for the dangers connected with the innovative financial items that were being produced. This lack of knowledge of threat caused the monetary crisis, as the financial systems were unable to deal with the threats connected with these products. The quote is a tip of the value of understanding the risks related to financial items, and the requirement for monetary systems to be able to manage these dangers.