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"When you look at how mortgages were sold and people got overextended with their credit," said Marshall N. Carter, New York Stock Exchange Group Chairman.

Now, after some banks were bailed out with billions and others still fail, after auto industry bailout bucks and with big time government spending trickling in, the question becomes: is the great recession over?

"If you really want to know when we're coming out of the recession, I think you have to look at the creation of jobs and consumer spending. Those two are not increasing," Carter said.

Carter says any recovery still has a ways to go. On Wednesday, he spoke with RPI Lally School of Management and Technology students about what took place and what to look for in the future.

"We need an overall agency that looks at systemic risk and more regulation of hedge funds," Carter said.

Then again, pending home sales are up nationally, so are auto sales, signs investors and students are evaluating to figure out if the worst is behind us.

"Consumers have to be more confident, but I don't foresee that the economy is going to go down further beyond this point in the short run," said Iftekhar Hasan, Lally School International Center for Financial Research Director.

"Especially in the last few days, there have been a number of articles, the Chinese are wanting a global currency. We had a global currency once. It was the gold standard which we went off of," Carter said.

But there's the concern too that all this government spending is really just another bubble making the economy look better than it really is, a bubble that could lead to inflation, meaning you'd have to pay a lot more for whatever you buy at some point down the road.

"One of the lessons learned from the great depression is don't back off from the stimulus too early," said Carter.

But Carter says officials have their eye on the inflation threat, the real risk is the government not doing enough.

"Students are going to be the future leaders," said Hasan.

These are just a few issues that future business leaders hope will give them the perspective they need so the recession becomes only a history lesson.