Gross Subprime Nonsense From The Government
But these experienced, vigilant market watchers have been incredibly slow to recognize the spread of the poisonous fallout from the subprime meltdown. Testifying on March 28, Bernanke said, “At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained.” The same day, Paulson told the House of Representatives that “from the standpoint of the overall economy, my bottom line is we’re watching it closely but it appears to be contained....