Timothy Geithner's Moral Hazard

Just as today’s economists and historians continue to trade blows about the Great Depression’s causes, we can be confident that future commentators will be providing diametrically-opposed explanations of the Great Recession that began unfolding in 2007. Hence it’s not surprising that some of those who were closest to the policy epicenter of the maelstrom are anxious to get their version of events on the record. Former Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Hank Paulson came out with books soon after leaving government service.

Now it’s Timothy F. Geithner’s turn.

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