"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"

This quote by Timothy Geithner is referring to the current financial and financial crisis that the world is facing. He is stating that never prior to in modern times has the world been struck by such a severe and widespread financial and monetary crisis. This crisis has actually had a disastrous impact on economies around the world, with lots of countries facing economic crisis, high joblessness, and financial instability. The crisis has likewise had a significant influence on individuals, with many individuals losing their jobs, houses, and cost savings. This quote works as a suggestion of the severity of the current economic and monetary crisis and the need for governments and people to take action to address the circumstance.