Ben Bernanke: “Congress did not intend for the Federal regulators to discard the State risk-based capital system in favor of a banking…”

Let me just say that we are quite aware of these portfolios, and we are addressing them in at least two ways.

The political challenge is to figure out how to do that.

Lower paid workers, as well as women and minorities, are over-represented in the most affected sectors, and, thus, have borne a disproportionate share of the job and income losses.

Financial risk tends to migrate around regulatory obstacles like a river flows around rocks.