If actions taken by the administration, the Congress and federal government are successful in restoring some measure of financial stability, and only if that is the case, in my view, there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery.
Federal Reserve Chairman Bernanke outlines the conditions necessary for economic recovery.
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It would be very concerning for financial markets and, I think, for the general public if the United States didn't pay its bills.
Congress did not intend for the Federal regulators to discard the State risk-based capital system in favor of a banking capital regime.
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