Those--the cuts are designed to starve those agencies of the ability--deny them the ability to enforce a set of basic, sensible protections for consumers and investors.
Tim Geithner: “Those--the cuts are designed to starve those agencies of the ability--deny them the ability to enforce a set of basic…”
Editor's note · Context
Geithner warns that proposed funding cuts would undermine Wall Street reform efforts.
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It's critically important. I'll give you an example of how to--if the Congress extends those tax cuts that go to 2 percent of the most fortunate Americans in the country, we have to go borrow $1 trillion over 10 years.
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.
The basic sense that you see across the country that the political institutions in this country are not up to the challenges we face, unable to act, unable to solve problems, is absolutely weighing on confidence.
I definitely believe that Dodd-Frank has put us in a much stronger position than we were before the crisis.





