John A. Allison, who retired two weeks ago from a nearly 20-year term as chief executive of BB&T Corp., is renowned for his candor. In an interview last week at BB&T's corporate headquarters, he was true to form.

Mr. Allison, who remains the $136 billion-asset company's chairman through yearend, gave his perspective on the causes of the credit crisis, a scorecard of sorts for regulatory action, and a broad view of what the industry must do this year to expedite recovery.

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