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April 20, 2007: Treasury Secretary Paulson: "The housing market is at or near the bottom. The U.S. economy is very healthy and robust. Subprime mortgage market won't impose a serious problem."

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Mr. Paulson and Dr. Bernanke have been dead wrong on the housing bubble, subprime meltdown, and credit crisis since day one, and failed to enact proper regulations to prevent these catastrophes in the first place. Now they are printing money like there is no tomorrow and bailing out investment banks left and right in a desperate attempt to make up for all the months and years when they did not understand what was going on. Why have these two underachievers not been pressured to resign? In my opinion the pain has only just begun; the S&P 500 will drop at least 50% from its peak before it's all over. Perhaps at that point, these two will get the boot. April 20, 2007: U.S. Treasury Secretary Henry Paulson said the housing market correction appears to be at or near its bottom ...

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