Paulson says credit crunch is more than half over

[Spartacus]

A mere 4 months after it stopped being "well contained", the credit crunch is 51% finished.

http://www.bloomberg.com/apps/news?p...jeg&refer=home

I wonder what Bugs Bunny would say about this ... the word "maroon" would figure prominently, I bet.

Paulson's a bit tall to play Elmer Fudd, though ...

[The Outback Oracle]

Re: Paulson says credit crunch is more than half over

On an arithmetic or geometric scale?

[GRG55]

Re: Paulson says credit crunch is more than half over

A mere 4 months after it stopped being "well contained", the credit crunch is 51% finished.

http://www.bloomberg.com/apps/news?p...jeg&refer=home


I wonder what Bugs Bunny would say about this ... the word "maroon" would figure prominently, I bet.

Paulson's a bit tall to play Elmer Fudd, though ...

Paulson's trying to do a Porky Pig imitation.


He wants us to believe..."Th-th-th-that's All Folks!" [apologies to Mel Blanc]

[FRED]

Re: Paulson says credit crunch is more than half over

"I am convinced that through these measures we have reestablished confidence."
- Herbert Hoover, December 1929

"[1930 will be] a splendid employment year."
- U.S. Dept. of Labor, New Year's Forecast, December 1929

"For the immediate future, at least, the outlook (stocks) is bright."
- Irving Fisher, Ph.D. in Economics, in early 1930

"...there are indications that the severest phase of the recession is over..."
- Harvard Economic Society (HES) Jan 18, 1930

"There is nothing in the situation to be disturbed about."
- Secretary of the Treasury Andrew Mellon, Feb 1930

"The spring of 1930 marks the end of a period of grave concern...American business is steadily coming back to a normal level of prosperity."
- Julius Barnes, head of Hoover's National Business Survey Conference, Mar 16, 1930

"While the crash only took place six months ago, I am convinced we have now passed through the worst -- and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us."
- Herbert Hoover, President of the United States, May 1, 1930

"Gentleman, you have come sixty days too late. The depression is over."
- Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

And so on.

[algerwetmore]

Re: Paulson says credit crunch is more than half over

"I am convinced that through these measures we have reestablished confidence."
- Herbert Hoover, December 1929

"[1930 will be] a splendid employment year."
- U.S. Dept. of Labor, New Year's Forecast, December 1929

"For the immediate future, at least, the outlook (stocks) is bright."
- Irving Fisher, Ph.D. in Economics, in early 1930

"...there are indications that the severest phase of the recession is over..."
- Harvard Economic Society (HES) Jan 18, 1930

"There is nothing in the situation to be disturbed about."
- Secretary of the Treasury Andrew Mellon, Feb 1930

"The spring of 1930 marks the end of a period of grave concern...American business is steadily coming back to a normal level of prosperity."
- Julius Barnes, head of Hoover's National Business Survey Conference, Mar 16, 1930

"While the crash only took place six months ago, I am convinced we have now passed through the worst -- and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us."
- Herbert Hoover, President of the United States, May 1, 1930

"Gentleman, you have come sixty days too late. The depression is over."
- Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

And so on.

Fred: Thanks for the quotes;could you forward those to Paulson's office?

[phirang]

Re: Paulson says credit crunch is more than half over

Why doesn't paulson go long the financials, then? They must be a real "bargain" if what he says is true...

it's pathetic how the fox guards the henhouse in this country... btw, this is nothing new!

[BobH]

Re: Paulson says credit crunch is more than half over

With that in mind ... what's the Fed going to do with CountryWide now that BoA says ... we like the assets ... not so much the liabilities! Looks like BoA is asking the Fed to pony up ~$39B worth of liabilites that BoA doesn't want.

That's a bit bigger than the Bear number! Maybe Paulson needs to reconsider what 'half of what' he might be thinking about.

[metalman]

Re: Paulson says credit crunch is more than half over

Why doesn't paulson go long the financials, then? They must be a real "bargain" if what he says is true...

it's pathetic how the fox guards the henhouse in this country... btw, this is nothing new!

metalman says hank paulson is more than half over...

Paulson sworn into office on July 10, 2006 by Supreme Court Chief Justice John Roberts. So far, almost 2 years.

4 yrs is a long term during boom times, so best case he's half done.

Robert Edward Rubin: January 11, 1995 to July 2, 1999 4yrs, 6mo.

During busts, 3 yrs is a good run.

John William Snow: February 3, 2003 to June 30, 2006 - 3 yrs, 4 mo.
Paul Henry O'Neill: January 20, 2001 to December 31, 2002 - 2 yrs
Lloyd Millard Bentsen, Jr.: January 20, 1993 to December 22, 1994 - 2 yrs

look for a new treasury secretary next yr.

[rros]

Re: Paulson says credit crunch is more than half over

All monkey business. Mr. Paulson has a boss.