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Timothy Geithner Biography

Timothy Geithner

Timothy Franz Geithner (/ˈɡaɪtnər/; born August 18, 1961) is a former American central banker who served as the 75th United States Secretary of the Treasury under President Barack Obama from 2009 to 2013. He was the President of the Federal Reserve Bank of New York from 2003 to 2009, following service in the Clinton administration. He now serves as president of Warburg Pincus, a private equity firm headquartered in New York City.

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Timothy Geithner Quotes

The plausible outcomes range from the gradual and benign to the more precipitous and damaging.

Benign, Outcomes, Precipitous, Range

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.

Government, Long, Risks, Ultimately, Wait, Waiting

If you don't try to generate more revenues through tax reform, if you don't ask, you know, the most fortunate Americans to bear a slightly larger burden of the privilege of being an American, then you have to - the only way to achieve fiscal sustainability is through unacceptably deep cuts in benefits for middle class seniors, or unacceptably deep cuts in national security.

Achieve, Benefits, Class, Cutting, Revenues, Senior

We have parts of our system which are overwhelmed by regulation. It wasn't the absence of regulation that was the problem. It was despite the presence of regulation you got huge risks built up.

Huge, Overwhelmed, Problem, Regulation, Risk

The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalances between our social insurance commitments and resources - are not about monetary policy.

Commitment, Economic Inequality, Educational, High, Inequality, Policy

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

Concentrated, Lower, May, Probability, Risk, Today

The government can help, but we need to make this transition now to a recovery led by private investment.

Government, Help, Investment, Recovery, Transition

The choice is between which mistake is easier to correct: underdoing it or overdoing it.

Choices, Easier, Mistake, Underdoing

The substantial uncertainty about the path of asset price movements going forward necessarily reduces the case for altering policy in advance of the move.

Forward, Movement, Moving, Path, Policy, Reduces

We believe in a strong dollar. Chinese financial assets are very safe.

Believe, Chinese, Dollar, Strong

The recognition that things that are not sustainable will eventually come to an end does not give us much of a guide to whether the transition will be calm or exciting.

Calm, Doe, Eventually, Giving, Guide, Transition

Most consequential choices involve shades of gray, and some fog is often useful in getting things done

Choices, Done, Fog, Gray, Shades

Financial crises require governments.

Crises, Crisis, Financial, Government, Governments

Looking past the immediate crisis, a more resilient system must be built on stronger and better designed shock absorbers, both in the major institutions and in the infrastructure of the financial system.

Crisis, Designed, Past, Shock, Shock Absorber, Stronger

Monetary policy itself cannot sensibly be directed at reducing imbalances.

Imbalance, Imbalances, Monetary Policy, Policy, Reducing, Sensibly

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

Judgment, Stability, Think, Thinking, Want, War