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According to sources in the room, US Treasury Secretary Timothy Geithner said the following to a meeting of House Democrats last night:

"We're doing in weeks what countries did in years...It will take some time. It will take some patience. But it will work."

Geithner has come under enormous pressure from investors, commentators, bloggers and just about every other person under the sun not named Barack Obama since taking over at Treasury. The biggest criticism has been his apparent "dithering" and inability to formulate or articulate a clear response to the banking crisis. In the current environment, no one has the luxury of time, and doing too little (fiscal stimulus including) runs the very real risk of plunging a deep recession into a depression.

But, doesn't he have a point?