On National Public Radio this morning, Sens. Chris Dodd (D-Conn.) and Richard Shelby (R-Ala.), the top members of the Senate Committee on Banking, Housing, and Urban Affairds Committee, agreed on at least one thing: that the major federal bailouts are over -- at least for the time being. Dodd told listeners that there were no other major financial institutions in as much trouble as AIG, Freddie Mac or Fannie Mae had been before they were rescued by federal intervention.
Shelby, asked if he agreed that there were no further shoes about to drop, agreed with his colleague. Dodd clarified that there are likely to be more bank failures around the corner, but that they would be smaller, regional banks without the potential to topple the global financial structure.