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What Banks And The Government Are Not Telling Us About 2009

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What Banks And The Government Are Not Telling Us About 2009—The Next Shoes You Hear Drop May Be Very Loud Ones

James QuinnAugust 4th 2008

Cutting Edge News Contributor

Economy - Bernanke460
Federal Reserve Chairman Ben Bernanke
It is time for some straight talk about what America is being told about our financial institutions. First: listen to the words or our most esteemed financial leaders. In March of last year, Treasury Secretary Henry Paulson delivered an upbeat assessment of the economy, saying growth was healthy and the housing market was nearing a turnaround. "All the signs I look at" show "'the housing market is at or near the bottom," Paulson said in a speech to a business group in New York, adding that the U.S. economy is "very healthy" and "robust."
At about the same time last March 2007, Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve, told Congress, "At this juncture, the impact on the broader economy and financial markets of the problems in the sub-prime market seems likely to be contained."

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