Fundamentally strong

That was then.

This is now:

Federal Reserve Chairman Ben Bernanke bluntly warned Congress on Tuesday it risks a recession, with higher unemployment and increased home foreclosures, if it fails to act on the Bush administration's plan to bail out the financial industry.

Bernanke told the Senate Banking Committee that failure to act could leave ordinary businesses unable to borrow the money they need to expand and hire additional employees, while consumers could find themselves unable to finance big-ticket purchases such as cars and homes.

The Senate Banking Committee listened in silence as the nation's central banker sketched his scenario.