Chairman Bernanke in his 60 Minutes interview suggested that the biggest potential dangers facing the economy now was the potential for a lack of “political will” to solve the financial crisis.  We wonder if that’s political will for making bank bondholders take a haircut…

He did say that the United States has averted the risk of plunging into a depression.  “I think we’ve gotten past that,” he said.  He also said a recovery by the end of this year continues to depend on the plan they have to “stabilize” the banking system.  We, at SwampReport, “hope” it works and that the Plan, when it’s finally carefully described to the public is more than just the “Hope”  often talked about by the administration.   See USA Today