Ben Bernanke actually said...

If it became clear that these problems were not going to be adequately addressed because we were just in a perpetual gridlock, I think that ...

Yes, except in the worst economic conditions.

the sooner that a long-term plan is put in place to make significant and credible reductions in the path of the deficit, the better it will ...

The Dodd-Frank Act addresses critical gaps and weaknesses in the U.S. regulatory framework.