USA TODAY: Former Treasury secretary Timothy Geithner, at the center of the response to the financial meltdown in 2008, defends pursuing policies that bailed out some of those who had gotten the country into trouble in the first place. When “the plane’s on fire and smoke is filling the cabin,” he says, the focus has to be on landing it safely…
In his new book, Stress Test: Reflections on Financial Crises, published today by Crown, Geithner details the frantic efforts behind the
scenes to keep a crippling recession from becoming an even more devastating depression. Now 52, he was at the center of the action, first as president of the New York Fed, then as head of the Treasury Department…
In the interview, he discusses the best and worst decisions made during those tumultuous years and his biggest personal failing — his inability to explain effectively to Americans the risks ahead and policy choices being made. He offers some advice to his successor for when the next crisis inevitably strikes. “Use overwhelming force, and plan for a long war,” he says… (more)
