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He asked the bankers to explore an industry solution.
Mr. Geithner made an impassioned appeal to the group for an industry solution.
They wanted an industry solution to prevent the crisis from worsening, according to two people who did not attend the meeting but were briefed on it.
Instead, Mr. Paulson and Mr. Geithner insist that Wall Street needs to come up with an industry solution to try to stabilize Lehman Brothers and calm the markets.
Mr. Geithner told the participants that an industry solution was needed, no matter what, and that it was not about any individual bank, according to two people briefed on the meeting but who did not attend.
His message, these people were told, was clear: it is not about any individual bank, it is about the industry; if you don't create an industry solution, you will be next.
Similar(47)
A venture capital company would provide this kind of funding," says John Bates, head of industry solutions at Software AG.
"The same guests that walk through the hotel lobby are the same consumers Microsoft targets," said Sandra Andrews, hospitality industry solutions director for Microsoft.
She is a program manager at the company's industry solutions laboratory in Hawthorne, N.Y., where she specializes in computing geared toward companies doing work involving biology.
The bridegroom, 39, was until last spring the vice president for industry solutions at Ariba, a company in Sunnyvale, Calif., that develops business software.
The Advertising Research Foundation's online research quality council formed an industry solutions committee to be led by Mark Berry, executive vice president for business and consumer insights, Synovate, part of the Aegis Group; Tomas Emmers, consumer and marketing insights director, Unilever; and Anne Hedde, president and global chief executive, Lightspeed Research.
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CEO of Professional Science Editing for Scientists @ prosciediting.com