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I think the article is fantastic. Thoughtful. Clearly articulated. Seems to me the fed has its finger on the pulse of the financial system stability...to the best anyone can. Distinguishing between vulnerabilities and triggers, historical norms and efficient markets. Sensitive to past successes and failures...to what's worked and has not worked. I suspect you guys will start calling me PollyCharles, but I find the article reassuring.
Reply to @Charles: I quite agree with you, but as a former civil-servant, I'm well aware of how policies, and what is regarded as important, can change radically with the appointment of a new department head. I really admire and respect Bernanke, but the subsequent appointment of a Fed leader who does not share his perspective could easily cause his present efforts to deteriorate significantly, leaving the industry to once again "self-regulate", as many of our politicians are paid to promote.
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