March 2007 - Bernanke Says That Mortgage Troubles Will Not Spread To Rest of Economy

[Median Democrat]

It is nice to know that the DOW apparently rose in response Ben, cry wolf, Bernanke. Afterall, remember in March 2007 when Ben Bernanke predicted that mortgage troubles would not spread to the rest of the economy:

http://www.iht.com/articles/2007/03/29/business/usecon.php

/snip

Ben Bernanke, the Federal Reserve chairman, said he did not expect the escalating problems in the mortgage lending business to spread to the rest of the economy, but noted that the Fed had given itself the "flexibility" to adjust interest rates should the outlook change for better or for worse.

/snip

[Lebam in LA]

1. They man has no credibility

Why anyone would listen to this idiot isn't real bright. Does anyone really think this will be over by the end of the year? Why is he still head of the FED anyway?

[Zenlitened]

2. "Subprime is contained."

Ah, those were good times, good times.

:hangover: