So, before I turn to my planned topic of discussing banking and banking supervision more generally, I'd like to spend a few moments reviewing the efforts of the Federal Reserve, some of them in conjunction with other financial institution regulators, to maintain and restore vital financial services to the people of the Gulf Coast--including those who remain in the region and those who have been forced by the storm to relocate outside the region.
Distinguished Ladies and Gentlemen; Now that I have dwelt on the desirability and virtues of good governance, and the expanded role of the accounting profession in strengthening good governance, let’s examine how the domestic governance framework benefited the country and the domestic banking sector generally at the time of the global recession.