[Travis McGee]

"American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage."~~Alan Greenspan, February 22, 2004

“The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions.”~~Alan Greenspan, May 2005

"We're not about to go into a situation where (real estate) prices will go down. There is no evidence home prices are going to collapse."~~Alan Greenspan, May 21, 2006

“The damage from the subprime market has been largely contained. Fortunately, the financial system and the economy are strong enough to weather this storm.”~~Richard Fisher, Federal Reserve Bank of Dallas President, Apr 4, 2007

"All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system."~~Fed Chairman Ben Bernanke, May 17, 2007

I don't think we're headed into a recession. But there's no question we're in a slow down and that's why we acted with over $150 billion worth of pro-growth economic incentives, mainly money going into the hands of our consumers... The purpose is to encourage our consumers - to give 'em money - to help deal with the adverse effect of the decline in housing values.~~President George W. Bush, Feb 28, 2008

[RSmithOpt]

One thing's for sure....if a person invests opposite what is said by 'those in the know / in the media', he/she may stand a better than 80% chance in finding a good investment or saving a good bit of cash buy banking on the opposite of what is said.

[the gillman@blacklagoon.com]

Still a long way to the bottom.

[TigerLikesRooster]

From: Supreme Bankers of Wall St.
To: yahoos in the street.

-- begin transmission --

Thou shall not worry. Things are only bad in some financial markets and some pockets of U.S.. Stores are still packed. People buy new cars, despite rising oil price. Everybody is smiling.

Now don't challenge the Big Brother's infinite wisdom on economy. He is working in mysterious ways we cannot even fathom. Keep paying your debt and buying stocks.

Hail Golden Bull!

-- end of transmission --