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 Geithner0
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Timothy Geithner:
The choice is between which mistake is easier to correct: underdoing it or overdoing it.Timothy Geithner:
This crisis exposed very significant problems in the financial systems of the United States and somTimothy Geithner:
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The government can help, but we need to make this transition now to a recovery led by private invesTimothy Geithner:
And I think it's a prudent, responsible way, given the scale of the emergency, the scale of the damTimothy Geithner:
But what we're determined to do, and what the reforms will do is to make sure this system goes back