Tim Geithner Criticizes Elizabeth Warren In New Book

[el_bryanto]

6. Perhaps what he means is that it was a conservative moment on wall street

He's a wall street guy; so he probably believes that at that moment, Wall Street was chastened by the failure of all the new baffling complex investment vehicles they had invented which had subsequently blown up. They didn't need to be regulated by Elizabeth Warren because they were already in a "conservative" frame of mind, and unlikely to make the same mistakes.

Of course that's a pretty self serving narrative; while it's true that perhaps at that specific moment Wall Street was less inclined towards fanciful investments, in the same sense that everybody is a good driver for a few weeks after they are in an accident, they would return to their reckless ways soon enough. And I'd feel a lot better with Warren overlooking their "innovations."

Bryant