Famous quote by Timothy Geithner

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We judged that a sudden, disorderly failure of Bear would have brought with it unpredictable but severe consequences for
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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"

- Timothy Geithner

About this Quote

This quote by Timothy Geithner is referring to the financial crisis of 2008 and the choice to bail out Bear Stearns. Geithner is alerting of the prospective consequences of an unexpected and disorderly failure of Bear Stearns. He is suggesting that such a failure would have had serious consequences for the more comprehensive monetary system and the economy as a whole. This could have consisted of a reduction in equity rates, even more downward pressure on home values, and less access to credit for business and families. Geithner is highlighting the importance of the choice to bail out Bear Stearns in order to prevent these possible repercussions from taking place. He is suggesting that the bailout was essential in order to secure the wider financial system and the economy from further damage.

About the Author

USA Flag This quote is written / told by Timothy Geithner somewhere between August 18, 1961 and today. He/she was a famous Public Servant from USA. The author also have 26 other quotes.

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