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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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This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 1 year 221 days ago (marketwatch.com). Views: 587
Tags: federal reserve henry paulson housing bubble |
| Related Tags: credit crisis gold wall street economics inflation peter schiff banks |
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 and that troubles in the subprime mortgage market will not likely spread throughout the economy.
Paulson delivered an upbeat assessment of the economy, saying growth was healthy.
"All the signs I look at" show "the housing market is at or near the bottom," Paulson said. The U.S. economy is "very healthy" and "robust," he said.
"I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained," he added.
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ian said |
| 1 year 221 days ago |
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