In a pre-taped exclusive interview with David Gregory for Meet the Press Treasury Secretary Timothy Geithner said two things must happen: Wall Street must change and the debt must come down. He also said that the growth that occurred was a positive sign but the recovery would take a while.
The indicators of a budding recovery were that GDP growth was at 3.5% for the third quarter and that job losses had slowed. The reason the growth will remain sluggish is because other indicators released were lower than previous months.
Mr. Geithner repeated his admonition (AFP) that the debt was too high and must come down. The debt would be addressed as the economy continues to grow and policies would be decided as conditions dictated. The other important statement was that Wall Street must change. The regulatory proposal caused Wall Street to balk.
The indicators of a budding recovery were that GDP growth was at 3.5% for the third quarter and that job losses had slowed. The reason the growth will remain sluggish is because other indicators released were lower than previous months.
Mr. Geithner repeated his admonition (AFP) that the debt was too high and must come down. The debt would be addressed as the economy continues to grow and policies would be decided as conditions dictated. The other important statement was that Wall Street must change. The regulatory proposal caused Wall Street to balk.
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