Tuesday, February 10, 2009

That Was Him

An excerpt from Geithner's presentation today:


The causes of this crisis are many and complex. They accumulated over a long period of time, and they will take time to resolve. Governments and central banks around the world pursued policies that, with the benefit of hindsight, caused a huge global boom in credit, pushed housing prices and financial markets to levels that defied gravity.


Geithner was the head of the Federal Reserve Bank of New York. The "central banks" that "pursued policies"? That was him.