Treasury Secretary Geithner Says New Financial Crisis Coming, But We Won’t Know When Until It Happens

Posted By on May 19, 2011

All we can say is speak for yourself big guy…..the average American was led over a cliff by the Big Banks (too big to fail), the Federal Reserve and the U.S. Government which was chasing growth at any cost.  And they still are!
 
 

Geithner, in early 2009 succeeded Paulson as treasury secretary.

 
Geithner:  In reviewing the crisis,  “Ordinary Americans were not without blame….Americans as a group borrowed a huge amount of debt,” he said. “There was indiscriminate pushing of credit into the fringes of the spectrum.”…….
  
“I’m certain we will” experience another catastrophe—he just couldn’t say when or what kind. “You will not know,” he answered. “It’s not going to be possible for people to capture risk with perfect foresight and knowledge.  But there will be another storm”.
  
Under mostly gentle questioning from Pulitzer Prize-winning financial writer Liaquat Ahamed and New York Times business columnist Andrew Ross Sorkin Geithner said “I’m certain we will” experience another catastrophe—he just couldn’t say when or what kind.

Geithner said the saga contained aspects of “Old Testament justice,” prompting Sorkin to ask, “Why hasn’t somebody gone to jail?”

“I’m not in the enforcement business,” Geithner dodged. But then he counseled patience. “That chapter’s not yet written. Don’t reach premature judgments on that.” He added: “You can’t prevent people from making mistakes…Taking too much risk and making stupid mistakes may not be a crime.”

Read more: http://www.thedailybeast.com/blogs-and-stories/2011-05-18/too-big-to-fail-timothy-geithner-says-no-at-hbo-movie-screening/2/#ixzz1MqvUCBHv

 

About the author

Comments

13 Responses to “Treasury Secretary Geithner Says New Financial Crisis Coming, But We Won’t Know When Until It Happens”

  1. Sausalito Ferry Schedule

    Appreciate the recommendation. Will try it out.|

  2. betterscooter.com

    I really enjoy these kinds of betterscooter.com! I purchased these around schokohrrutige. When i deliver it to high school, with the pictures any place! That some so thus which means that very vogue!

  3. maglia Chelsea

    Greetings, awesome website you possess presently.

  4. Günstige fußballtrikots

    Truly such a valuable web site.

  5. billiga fotbollströjor

    Hey, neat websites you possess at this time there. sites:ggglese.com

  6. maglie calcio a poco prezzo

    p86dwtl 3il1ohqbd fotballdrakter barn asf326tk silom34b2p\n jftuzi0edw 20mg81vix fotballdrakter barn 376f5zq jbwapts16\n m4l5tj sitebfxqmg Billige Fodboldtrøjer k2t51lue 5rfh8cve7\n

  7. fußballtrikots Günstige

    \n \n maglie calcio poco prezzo \n \n \n \n \n maglie calcio \n \n \n \n \n maglie calcio a poco prezzo \n \n \n

  8. ajax tröja says:

    ajax tröja

    \n \n fußballtrikots \n \n \n \n \n billiga fotbollströjor \n \n \n \n \n fotbollströjor \n \n \n

  9. psg fodboldtrøjer

    \n \n fotbollströjor barn \n \n \n \n \n fotbollströjor barn \n \n \n \n \n billige fotballdrakter \n \n \n

  10. fotbollströjor

    \n \n maglie calcio bambino \n \n \n \n \n maglie calcio poco prezzo \n \n \n \n \n billige fotballdrakter \n \n \n

  11. maglie calcio a poco prezzo

    \n \n billiga fotbollströjor \n \n \n \n \n maglie calcio \n \n \n \n \n maglie calcio \n \n \n

  12. billiga fotbollströjor

    \n \n maglie calcio a poco prezzo \n \n \n \n \n maglie calcio a poco prezzo \n \n \n \n \n maglie calcio \n \n \n

  13. fotballdrakter

    7val1j5c 5pia7r3hk2 maglie calcio bambino f59b6yhzku jfq0yx\n n3hg8w d5njebo3 maglie calcio bambino u8adtgny29 tum87gqcwp\n n4iw71z 28gxlb0 billige fotballdrakter eg8v352lf gr7lsq4wba\n

Leave a Reply

You must be logged in to post a comment.

Copyright © 2024 The Stated Truth