Geithner acknowledges mistakes in monetary policy

05/12/2009 | Wall Street Journal, The

In a recent interview, Treasury Secretary Timothy Geithner said there were three kinds of policy errors made that contributed to the financial crisis. "One was that monetary policy around the world was too loose too long," Geithner said. "And that created this just huge boom in asset prices, money chasing risk. People trying to get a higher return. That was just overwhelmingly powerful." Geithner also cited the government's slow response to issues and a lack of oversight over banks' risk taking.

View Full Article in:

Wall Street Journal, The

Published in Brief: