Bank of America Corp (BAC)

[WID]

Geithner: Nationalization Is “The Wrong Strategy”

Treasury Secretary Timothy Geithner, in an interview with PBS’s Jim Lehrer to air Wednesday evening, offered the Obama administration’s strongest declaration yet knocking down talk of nationalizing banks. “I think that’s the wrong strategy for the country and I don’t think it’s the necessary strategy,” he said. Mr. Geithner also defined capital injections that would follow the stress tests as “insurance from the government” designed to improve the likelihood of banks attracting private capital.

Following are excerpts from his interview, based on a transcript released by The NewsHour With Jim Lehrer: