OTC MARKET NEWS Powered By Quantifi

Risk of another financial crisis ‘very low,’ Geithner says 

May 22, 2014
Robert Schroeder, MarketWatch

Former Treasury Secretary Timothy Geithner is pegging the chances of another financial crisis as “very low” in this lifetime thanks to reforms taken after the last meltdown.

Speaking at an event sponsored by Politico, Geithner said those reforms have set up the U.S. for a long period of relative calm – though he didn’t deny the U.S. economy is facing challenges. Geithner, who is promoting his new book “Stress Test,” said the economy is definitely stronger than it’s been in the last four years. But challenges including an increase in inequality, lingering poverty, and a “broken” political system remain.

The former Treasury chief said he didn’t favor a wealth tax, as promoted by French economist Thomas Piketty. “In this country?” Geithner asked. “I just don’t see how it happens.”

Read more: MarketWatch

 
Comments are closed on this post.

Subscribe

Submit your email to receive our newsletter

GO