1. Overall, would you say that the U.S./global financial system has functioned well or poorly through this episode? What evidence can you point to in order to support your view? Is this sort of instability likely to happen again?

2. What is your assessment of how Ben Bernanke, the Chairman of the Federal Reserve, handled the situation?

3. If you were advising top lawmakers in Washington, DC about potential policy responses to the subprime turmoil, what sort of advice would you offer? Please consider both short-term remedies and long-term reforms.