That was the nice part of my comment, which I thought was a really good move.
The last time you were here I said you were out on an optimistic limb, but I think I've been fair in saying it was always conditional on the U.S. fixing the banks fairly quickly, and were that not to happen we'd do worse. I think that has happened. I'm not sure of the exact number, but according to the IMF there's $4 trillion, or some unimaginable huge number, in U.S. bank loans. So I contend there's still a risk that the U.S. banking system will not fix itself quickly enough.
Do you agree with that proposition? What is the outlook, or what will they have to do to make it work? What will the evidence be? When and and how will we know whether this central problem in the world--the U.S. and European banking systems--is indeed fixing itself?