Geithner On The Next Doom Machine
By LINETTE LOPEZ at Business Insider
As Treasury secretary, Tim Geithner examined every inch of the last global financial crisis. His account of those dark days was published earlier this month in his new book, "Stress Test: Reflections On Financial Crisis."
It's a look back. So when Business Insider spoke with Geithner on Wednesday, we asked him to look forward to the next financial doom machine — the next product, the next policy that will systematically churn out economic ruin and spread itself around the world.
We asked him to describe what that next doom machine might look like.
It didn't take him much time at all to respond.
"It will have this feature of guarantee with no risk," he said.
Geithner described it as a product, an innovation that will be sold to consumers as a guarantee. Once financial institutions get their hands on it, however, they'll use it to buy something risky.
He made it sound like a very contagious, latent virus.
Keep reading Geithner On The Next Doom Machine – Business Insider.
