Geithner: Proposed reforms won’t solve nation’s economic problems, but will protect taxpayers

Geithner: Proposed reforms will protect taxpayers

MILWAUKEE — U.S. Treasury Secretary Timothy Geithner says financial reforms being debated in Washington won’t solve all of the nation’s economic problems, but they will make future crises less likely.

Geithner told an audience in Milwaukee on Tuesday that measures being discussed in Congress would tighten the way certain securities are traded and establish consumer protections. He says this would make better protect taxpayers from paying for Wall Street’s mistakes.

Senate Republicans on Monday delayed the start of debate on a raft of financial regulations proposed by the Democrats, saying they planned to propose their own reforms.