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G-20 Outlines Coordinated Plan on Impaired Assets

Mar 17, 2009By

Treasury secretary Tim Geithner on Saturday commended the Group of Twenty (G-20) global financial advisers for supporting the U.S. movement for increased emergency International Monetary Fund resources and expanded G-20 membership. The road to stabilizing the global economy still has a long way to go, according to Geithner, and global finance regulators must now turn their attention to stabilizing financial institutions and reforming the way globally significant banks do business. “Risk does not respect national borders,” he said at the G-20 meeting in Horsham, England.