Geithner says on MTP he’s ‘confident’ financial reform will pass
On NBC’s Meet the Press, Treasury Secretary Tim Geithner wouldn’t address last week’s charges against Goldman Sachs, but reiterated the necessity for a financial reform package.
DAVID GREGORY: What is the broader significance of these charges [against Goldman Sachs]?
TIMOTHY GEITHNER: You know, David, I can’t comment on the details on that investigation or on the merits, but I can tell you that I am very confident that we’re gonna have the votes for a strong package of financial reforms that’ll bring derivative markets out of the dark, help protect the taxpayers from having to fund future bailouts and trying to make sure we’re getting Americans some basic protection against fraud and abuse.
DAVID GREGORY: Is it time to start teaching some people lessons on Wall Street?
TIMOTHY GEITHNER: Oh, I think, again, the best thing we can do for the country is to make sure we put in place strong protections, rules of the game, reforms of the with teeth. You want a system that acts preemptively to prevent these things from happening. You don’t want a system where have the government clean up the mess later. The best way to protect Americans from these things happening is to put a stronger system in place where people were able to– act ahead of the storm. Ahead of the abuse. Ahead of the crisis.