Featuring position papers from Michael Bordo, Rutgers University, “The Great Contraction 1929–1933: Are There Parallels to the Current Crisis?”; Charles Calomiris, Columbia University, “The Dos and Don’ts of Financial Regulatory Reform” and “TALF and PPIP: Will they Work to Unclog the Financial Plumbing?”; Marvin Goodfriend, Carnegie Mellon University, “We Need an Accord for Fed Credit Policy”; Mickey Levy, Bank of America, “What’s in Worse Shape, the Economy or Fiscal Policy?”; Bennett McCallum, Carnegie Mellon University, “China, the U.S. Dollar, and SDRs”; and Anna Schwartz, NBER, “Boundaries Between the Fed and the Treasury”; Moderated by Gregory Hess, Claremont McKenna College.