Paulson says we’re okay. Thank goodness. Smooth sailing ahead.
Phew. That’s a relief. I’ll tell our (former) sell-side contacts that their layoff last week must have been a mistake.
Yeah! Wow, I was worried there for a minute (well, ok, a week)!
Reminds me Colin Powell at the U.N.
Just for debates sake (and a bit off the original topic): Why feel bad for those who got laid off when… Themselves or their colleagues were responsible for this mess in the first place. Meaning believing blindly in a system that was clearly flawed. And one cannot use the excuse that “well everyone was doing it.” There were a lot of individuals and institutional investors that refused to purchase CDO’s and securitzed assets for the simple reason that they were garbage (as was the “technology”) to construct it. While reading through the MBS/ABS section in the LII reading material - it is almost laughable. Some even had the foresight to profit from the follies of others via the subprime ABX trade. Caveat being that there were many innocent jobs lost in the scuffle and that is not as acceptable.
He also said last April that the subprime problem is contained, and that the housing market had already bottomed.