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Geithner upbeat on financials, avoids comment on CIT
LONDON |
LONDON (Reuters) - There are signs of confidence and durable improvement in the U.S. financial sector, Treasury Secretary Timothy Geithner said in an interview on Thursday, declining to comment on threats to finance company CIT.
Asked several times why the Treasury had given no sign of supporting the company, Geithner gave no direct answer, saying the administration was working to repair the broader financial system.
"We are seeing what I believe are durable very important signs of not just adjustments and restructuring but greater confidence and stability in the system," Geithner told Bloomberg television.
"Credit markets are improving and we are seeing life starting to come back into markets that basically shut down at the end of last year."
(Reporting by Jonathan Cable and Patrick Graham; editing by Ruth Pitchford)
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