this begs the question of nationalization.

The Federal Reserve's balance sheet has more than doubled in size and presently stands at about $2 trillion.

a lot of us don't believe anything is too big to fail.

Dr. Volcker...thought some institutions, some banks were too big to exist.

Do you believe that the biggest challenge to our economic system today is rectifying and bringing competence and capital from the private sector, trust to the banking system?

A lot of people wonder, where were the regulators in the past 5 or 6 years, including the Federal Reserve.

How do you get the market to believe that what you are doing is the right thing?

I believe that was a term that Senator Corker used one time.

Propping up banks that are dead, so to speak?

Are we going down the same road in a sense?

Wouldn't we be better off to close some of those banks rather than continue to prop them up and let the American people continue to believe--no confidence in them?

Do you believe, and I know you haven't been in the Fed that long, but do you believe that the Fed has adequately supervised our banks as a regulator, or do you believe there were problems there that were not known or uncovered?