Geithner said people start to spend more before unemployment peaks. Geithner says there are some encouraging signs and there will be fits and starts. He says the Obama administration is committed to a strong auto industry. On firing bankers, Geithner says many banks have outright failed and their management and board have been replaced, like Fannie and Freddie. Schieffer pressed further on Bank of America and CitiBank ceos. Geithner said if in the future, a change in management is needed, changes will be made.
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