Wednesday, April 22, 2009

Treasury Secretary Timothy Geithner says the United States bears a substantial share of responsibility for the global economic crisis, but the problems that have made the crisis so acute are worldwide.

Geithner says: "Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through."

In a speech to a Washington audience, Geithner laid out the elements of a recovery plan that the U.S. will be pushing at finance meetings scheduled to begin Friday.