Ben Stein, Columbia and Yale: "The credit crunch is way overblown. The sub-prime is a tiny problem. It's a buying opportunity, especially the financials...Sub-prime is tiny. You are wrong about that."
Wall Street Journal:
Jan. 26, 2009
Lending at many of the nation's largest banks fell in recent months, even after they received $148 billion in taxpayer capital that was intended to help the economy by making loans more readily available.
Ten of the 13 big beneficiaries of the Treasury Department's Troubled Asset Relief Program, or TARP, saw their outstanding loan balances decline by a total of about $46 billion, or 1.4%, between the third and fourth quarters of 2008, according to a Wall Street Journal analysis of banks that recently announced their quarterly results.
ICHABOD, THE GLORY HAS DEPARTED - The antidote trusts the efficacious Word in the Means of Grace. John 16:8. Isaiah 55:8ff. Romans 10.