So what would happen if the head of a national bank called Geithner in the middle of the night and said they needed help?
"[The] basic lesson of the financial crisis is you need to make sure that you are doing what is necessary to repair what was broke in the system," Geithner said. "And if you pull back support prematurely, then the risk is that you are going to hurt growth, unemployment will go higher." The administration, he adds, is doing everything it can to ensure that credit is made available throughout the economy.
Many people have expressed concerns that another financial crisis might result from the deterioration of the commercial real estate market or a decline in the value of the dollar.
"We're not going to have a second wave of financial crisis," Geithner said. "We'll do what is necessary to prevent that. We cannot afford to let the country live again with a risk that we're going to have another series of events like we had last year. That's not something that's acceptable."
via www.npr.org
