Tim Geithner on making choices to manage risk

(soothing music) … - [Timothy] Larry Summers, he's the greatest, … I think the best mind in policy, … really almost anywhere, … and we were, I think, a very effective team together. … Not everybody agrees with what we did, … but we were effective in part because we debated … so forcefully and openly. … We didn't hide those disagreements, … we worked through them. … And what his great strength was … and it was tremendously valuable to the President, … and me and the crisis, … was to take a proposal and a recommendation, … and to try to see how robust it would be to argument. … To try to expose it to criticism from all dimensions, … to look at what its greatest risks might be … if you were off, and that was a great value, … so let me tell you how I think about … how you make these choices in this context. … Remember, these things, they're so rare … and it's so uncertain, it's so hard to tell … what's going to work, what's not going to work, … and you're trying to make this choice of … should you escalate early or should you wait? …