Tim Geithner: “I believe the U.S. bears some responsibility for this but responsibility goes around.”

I think you see reflected there, like you see reflected across the country, a deep sense of concern about the fact that we have 9 million Americans out of work.

When Timothy Geithner says today that he's willing to go over the cliff, he's saying it because, yes, it's posturing. But he's also saying it because he means it.

It would raise, dramatically, the borrowing cost, permanently, for all Americans.

Again, our overall objective, and this has to be our shared objective, is to have the private markets, banks and investors, bear more of the risk in housing finance, not less of the risk.