There are two issues that people sometimes confuse, but they're very closely related. There is the strength and the stability of the American financial system. And it's very important that that system remain stable and remain strong and lending is very important to consumers. Secondly, the economy. And what has gone on in financial system is impacting the economy. And as the economy is turning down, it is very important that lending continue to be available and be available to consumers. So what we're doing with this facility is to support - is to support consumer lending.
The U.S. didn't save enough; we borrowed a lot. There were structural imbalances in Asia with exporters, with oil exporters for a whole variety of things.
There are some things that you can work on immediately.
There's a lot of things we could do better.
I don't think a bankruptcy is a good thing.
I understand how important the automakers are to America. And I understand a bankruptcy; a failure in that industry wouldn't be a good thing. It's something we should avoid.
The first priority is to make sure we have capital to continue to have capital available to put into the financial system. That's the first priority.
In terms of the overall economy, we've got challenges and the big focus has got to be on recovery, on repair, and that's going to take a while.
There's always light at the end of the tunnel, right? It just depends on how long the tunnel is.
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