2.10.2009

Geithner says 'comprehensive' bailout to be costly

Feb. 10 (Bloomberg) -- Treasury Secretary Timothy Geithner laid out what he described as a “comprehensive” attack on the financial crisis, warning that administration’s strategy will “cost money, involve risk and take time.”

“The financial system is working against recovery, and that’s the dangerous dynamic we need to change,” Geithner said in excerpts of his prepared remarks for delivery today in Washington. “Without credit, economies cannot grow, and right now, critical parts of our financial system are damaged.”

Read more @ Bloomberg


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