The Recession's True Impact on Financial Services: Steven Weisbart, Insurance Information Institute

Published: March 11, 2009, 7:38 p.m.

b'Warren Buffett says the economy has "fallen off a cliff." But where does the fall end, and how badly bruised will financial institutions be when they pick themselves off the ground?\\n\\n

In an exclusive interview, Steven Weisbart, SVP and Chief Economist, the Insurance Information Institute, discusses:\\n\\n

The true impact of the recession on financial institutions;
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TARP monies and nationalization of banks;
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Signs of recovery to watch for in the months ahead.
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Weisbart is senior vice president and chief economist for the Insurance Information Institute. Weisbart oversees the Institute\'s program of economic research and analysis, preparing studies in support of the organization\'s communications mission, speaking to media and conducting briefings for member companies, industry organizations and public policymakers. A specialist in annuities, pensions, and life, disability and long-term care insurance, Weisbart frequently also makes presentations on property/casualty issues to industry audiences as well as legislative forums.\\n\\n

Since joining the I.I.I. in 2005, Weisbart has authored several significant research papers and articles on a variety of insurance issues, including the threat of an avian flu pandemic and the effect of the aging U.S. population on the property/casualty insurance industry.\\n\\n

For more than 40 years, the I.I.I. has provided definitive insurance information. Today, the I.I.I. is recognized by the media, governments, regulatory organizations, universities and the public as a primary source of information, analysis and referral concerning insurance.'