It suggests private capital will be attracted if the government continues to backstop deals.
Under questioning, he said that if the federal government continued to provide a backstop, the insurance industry might be discouraged from developing methods for assessing and pricing the risk from terrorism.
Bankers have continued to get rich using taxpayer dollars as both fuel and backstop.
Shares of Lehman Brothers continued to decline Friday as the beleaguered investment bank looked for a buyer even as the government indicated that it might not backstop the sale.
The ECB said the arrangements "have helped to ease strains in financial markets" and "will continue to serve as a prudent liquidity backstop".
Given the precariousness of its credit rating, Italy needs the backstop of the ECB continuing to buy its bonds in order to prevent Greek-style default spreading.
As for Morgan, who watched that 33rd inning from his backstop peephole, his baseball life would continue to this day: adviser, coach, major league manager, ever-matriculating student.
The economy is still a major issue, so we're continuing to offer peace of mind for consumers and a backstop in case the worst happens.
Even the healthiest firms will continue to rely on the understanding that there's a government backstop when participating in capital markets.
In addition, five states (Arkansas, Georgia, Indiana, South Carolina and Wyoming) continue to have no hate crime laws of any kind - making the federal backstop that is the HCPA all the more important.
The International Monetary Fund has been pressing Europe to commit enough money to provide a credible backstop that would insure that Italy and Spain could pay their bills and continue to finance their debts.
