Timothy Geithner Quotes

Some things never change - there will be another crisis, and its impact will be felt by the financial markets.

If the Chinese bubble bursts one day, which inevitably will happen - maybe not tomorrow, maybe in three months, maybe in three years - when it happens, it will have devastating consequences for the global economy.

I'd be kidding if I said that I predicted the financial collapse.

Rarely in modern times has there been such a revolution in commercial sentiment as occurred in 2008, or such a display in government and business of panic and helplessness.

What we know about the global financial crisis is that we don't know very much.

Banks wont even loan each other money, everybody's going broke, and here we are inside here, these people are going to be out on the street selling apples and pencils and they're still going to be buying paintings for this money, so I don't know what's going on in this world.

I'm not panicking, and I'm not scared, I've been through the Gulf War, the Asia crisis, and the Russian crisis.

In 2008, when the global financial crisis struck, it was a bad year for a lot of developing countries, and it manifested itself in consumer confidence.

In 2009, at the height of the global economic crisis, it was clear that we were seeing something new: the impacts of the crisis were flowing across borders at unprecedented velocity.

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.

COVID-19 has upended our economy.

As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the 'stress tests' that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.

There was no blueprint or how-to manual for fixing a global financial meltdown, an auto crisis, two wars and a great recession, all at the same time.

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression.

I don't know if we're on the edge of the precipice, but we're in a very, very, very difficult situation.

I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several million dollars, a rabble of dead money that went sliding off into the sea.

The financial and economic crash of 2008, the worst in over 75 years, is a major geopolitical setback for the United States and Europe.

In September 2008, the overleveraged and undermanaged U.S. banking system suffered a terrifying collapse. And that, in turn, nearly took the whole country down.

The consequences of a collapse would not be pretty. Whichever country precipitated it - Germany by threatening to abandon the euro, or Greece or Spain by actually doing so - would trigger economic chaos and incur its neighbours' wrath.

There are different flavors of recession. You can get into some pretty dark scenarios pretty quickly.

It was always tough, but today we are in the throes of something we have never seen in our history. It's clear in recent times the market is looking for a bottom.

The experience of the '90s, whether it's the '94 peso crisis or the '97 crisis in Asia, the '98 crisis, even the 2001 crisis, is that we recovered pretty readily. There wasn't great consequence.

Uncertainty is killing this economy.

The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties. The underlying impact of the international financial crisis is far from over.