When will the recession be over? ABC's Betsy Stark offered us Federal Reserve Chairman Benjamin Bernanke's testimony before a Senate committee, "what he called a reasonable prospect of the recession ending this year." Will the government have to nationalize banks to stabilize the system? "A public-private partnership," was his euphemism.
NBC continued its series Meltdown: Making Sense of it All to answer the recession question a different way. CNBC's Carl Quintanilla laid out a series of four economic metrics that would be evidence that the fiscal stimulus was doing the trick: the weekly rate of unemployment claims will have to slow; so-called toxic assets will have to be removed from banks and sold; house prices will have to stop falling; consumer confidence will have to improve. On those last two, Quintanilla had no good news: the annual rate of decline in real estate values is 18% in major cities; and consumer confidence is at "its lowest level since 1967."
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