Tim Geithner

In what fantasy world do we double our gross debt to $26 trillion and then say we are not adding to the debt?

you need to show on the budget the full costs, the potential risks of loss associated with any type of loan or guarantee program.

I have said consistently in public, and I believe and I said again this morning, that the Chinese currency is significantly undervalued.

Those sets of policies have been terribly damaging to our country and they are going to take time for us to fix.

China is running a set of policies that are designed to keep the currency undervalued.

The best case for China to move is that if they don't move, in a sense, what they are doing is letting the Federal Reserve of the United States run their monetary policy and that makes no sense for them.

We are not prepared to leave future generations of Americans vulnerable to the devastating effects of the financial crisis.

The reforms we proposed... would give us a much stronger set of tools for preventing these crises from happening.

It was clear in the absence of a private solution on Tuesday we were going to have to file bankruptcy by Wednesday morning.

This President has supported the largest amount, in terms of investments, in terms of his support for research and development, for innovation, for investments in new technologies in energy, for example.

Today, as you both said, the full Senate begins debate on landmark legislation that'll protect American families, limit risky activities on Wall Street, and end the perception that any firm is too big to fail.

It's very important, and overwhelmingly more important than anything else that we do, that we are working--doing a better job, in this country, of supporting manufacturing investment in American workers.

The current system is enormously unfair and puts huge, vivid costs, conspicuous costs, and hidden costs on small businesses.

If you care about fiscal responsibility, if you are worried about our long-term deficits, as everybody has to be, there is no path to address that does not go through health care reform that reduces the rate of growth in costs.

Why should somebody running a private equity firm or a hedge fund face lower taxes on income than a teacher and firefighter. It is a simple thing.

You are going to need Democrats and Republicans to come together and propose ways to deal with this.

What I believe very strongly--and I think this is a deep failure of Government--is that we allowed a level of abuse and predation to happen across the system with appalling, terrible consequences.

We have to act. We cannot talk about it. I agree with that.

The deficit is way too large. We have got to get it under control.

Our deficits are unsustainable.

But I want to be candid. This strategy will cost money. It will involve risk, and it will take time.

You either prevent default, because default would be cataclysmic, or you don't.

It is a very good thing for the country that private investors are willing to come in and, in effect, take the government out of those positions.

It is a good thing for the country that banks are eager to get out of the investments the government was forced to put in.

I would not ever support a regime where we created the expectation we created for Fannie and Freddie that in the end the Government would be there no matter what.