It’s like they had a broken crystal ball

“I have great, great confidence in our capital markets and in our financial institutions. Our financial institutions, banks and investment banks, are strong. Our capital markets are resilient. They’re efficient. They’re flexible.”

— Treasury Secretary Henry Paulson, March 16, 2008

“Our policy in this administration — laws shouldn’t bail out lenders, laws shouldn’t help speculators.”

— President Bush, May 19, 2008

“Our economy has continued growing, consumers are spending, business are investing, exports continue increasing and American productivity remains strong. We can have confidence in the long-term foundation of our economy…I think the system basically is sound. I truly do.”

— President Bush, July 15, 2008

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