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Geithner: Bankers to Blame for Loss of Confidence
Topics:Banking | Economy (U.S.) | Economy (Global) | Timothy Geithner | White House | Congress | Politics & Government
Sectors:Banks
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U.S. Treasury Secretary Timothy Geithner on Wednesday scolded bankers for creating a damaging loss of confidence, but said nationalizing banks was the wrong strategy for the United States.
In an interview with Public Broadcasting Service's "Newshour" program, Geithner said he was "deeply offended by the quality of judgments we've seen in the leadership of our nation's financial institutions."
"They've created a deep hole of public distrust and anger which is enormously damaging, and they have a huge obligation to try to restore that basic trust and confidence. And we're going to make sure they do it by making sure that our assistance comes with conditions," he said.
Copyright 2009 Reuters. Click for restrictions.
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