Entertainment: A blast from the past
Axiom: Better to lose your own money (nobody else to blame) than a
guru lose yours for you
Gurus from the last bullmarket as the mighty bull was reaching the TOP in 2007 and in the months that followed ...... 2 of the top most gurus, one from Goldman Sachs said this ...................
June 20th, 2007 – Bernanke: The mortgage debacle “will not affect the economy overall.''
July 12th, 2007 – Paulson: "This is far and away the strongest global economy I've seen in my business lifetime."
August 1st, 2007 – Paulson: "I see the underlying economy as being very healthy,"
October 15th, 2007 – Bernanke: "It is not the responsibility of the Federal Reserve - nor would it be appropriate - to protect lenders and investors from the consequences of their financial decisions."
May 7, 2008 – Paulson: 'The worst is likely to be behind us . . . . ”
May 16th, 2008 – Paulson: "In my judgment, we are closer to the end of the market turmoil than the beginning."
July 16th, 2008 – Bernanke: On Freddie and Fannie: “They will make it through the storm”, "… in no danger of failing.","…adequately capitalized"
Only two months later both were nationalized.
February 14th, 2008 – Paulson: (the economy) "is fundamentally strong, diverse and resilient."
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A "7" + high-skill = straight 10