The obvious policy response is intervention to cap the sterling rate, build up foreign-exchange reserves, and offset the monetary effects by issuing sterling debt.

ECONOMIST: Letters

It would also result in disruption and layoffs at the contractor and subcontractor facilities around the country and necessitate a time-consuming and expensive effort to reestablish the line involving requalification of myriad vendors and the painful resumption of the build-up to full-rate production.

CENTERFORSECURITYPOLICY: Center for Security Policy | Congressional Efforts To Delete Funds For The Trident II: One More Step Toward Comprehensive, Unilateral US Disarmament

The good news is that big banks probably now have enough capital to absorb the aggregate loss rate suffered by the system from 2007 to 2009 (although their build-up of liquidity reserves has been patchier).

ECONOMIST: The task of sorting out banking is far from finished