2004
1. “The ability of lending institutions to manage the risks associated with mortgages that have high loan-to-value ratios seems to have improved markedly over the past decade.”
– Alan Greenspan [February 2004]
2005
2. “Home sales are coming down from the mountain peak, but they will level out at a high plateau, a plateau that is higher than previous peaks in the housing cycle.”
– David Lereah, Chief Economist, National Association of Realtors [December 2005]
2006
3. “I don’t know, but I think the worst of this may well be over.”
– Alan Greenspan, [October 2006]
2007
4. “The fallout in subprime mortgages is "going to be painful to some lenders, but it is largely contained."
– Treasury Secretary Henry Paulson [March, 2007]
5. “The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.”
– Ben Bernanke [March 28, 2007]
6. "This is far and away the strongest global economy I've seen in my business lifetime."
– Treasury Secretary Henry Paulson [July 12th, 2007]
7. “In today's environment, it is virtually impossible to violate rules.”
– Bernie Madoff [November 2007]
2008
8. “Over the next few months, existing-home sales are expected to hold fairly steady as indicated by pending sales activity, then rise later in the year and continue to improve in 2009.”
– National Association of Realtors [January 2008]
9. “Although recent data suggest that the probability of a recession in 2008 has increased, CBO does not expect the slowdown in economic growth to be large enough to register as a recession.”
– US Congressional Budget Office [January 2008]
10. “I don't think we're headed to a recession.”
– President George W. Bush [February 2008]
11. “I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system.”
– Ben Bernanke [February 28, 2008]
12. “No! No! No! Bear Stearns is not in trouble.”
–Jim Cramer, CNBC commentator [March 2008]
13. “The worst is likely to be behind us.”
– Henry Paulson[May 2008]
14. “Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned,”
– Ben Bernanke [June 9, 2008]
15. “Fannie Mae and Freddie Mac are fundamentally sound. They're not in danger of going under.... I think they are in good shape going forward.”
– Barney Frank, chairman of the House Financial Services Committee [July 2008]
16. “We have no plans to insert money into either of those two institutions.” (Fannie Mae and Freddie Mac)
– Henry Paulson, [August 10, 2008]
17. “My own belief is if we were going to have some sort of big crash or recession, we probably would have had it by now.”
– Canadian Prime Minister Stephen Harper [September 2008]
18. “We're probably somewhere pretty close to a bottom.”
– Fund manager Barton Biggs [September 2008]
19. “The fundamentals of our economy are strong.”
– US Senator John McCain [Sept 15, 2008]
20. “We remain committed to examining all strategic alternatives to maximize shareholder value.”
– Lehman Bros. CEO Dick Fuld, shortly before Lehman went bankrupt [Sept 2008]
2009
21. “It’s a huge bull market rally.”
– Jim Cramer, CNBC [June 2009]
