MoneyNews - Ely: Bailout Not Necessary: "Banking industry expert Bert Ely has a stellar track record in predicting crises and calling false alarms. Now he says that the banking industry does not need subsidies and can recover fully without government help.
'I have run the numbers looking at the capacity of the industry to pay the tab,' Ely said during an interview at Institutional Risk Analytics.
'It's not going to be cheap, but the banks can handle it and clean up their own mess. The losses will feed back through the industry to depositors and borrowers in the form of lower rates on deposits and higher cost of loans.'"