Fed's Bernanke, TreasuryGeithner both see recovery in 2nd half 09.

steve,

subprime is contained:

http://edition.cnn.com/2007/US/03/29/subprime.congress/index.html

NO Comment :).... well, I think they are gonna be way wrong!... Oh hell, I double know they are gonna be wrong! Jesus, they can jawbone all they want, keebler and bernie gotz about as much credibility as Citibank (Pandit) =====> JOB LOSS, JOB LOSS... nuff said...

Oh my comment on Pandit, douche bag. His statement today is like the guy makes $50K/yr and buys a $10MM home on the beach.... a huge tsunami is coming, but the douche turns to his wife and says "I got a raise to $51K/yr". LMAO... all I GOTZ TO SAY IS CITIBANK BETTER DELIVER some serious numbers on their on-going "banking" business AND not take a HUGE write down DUMP.... cause it'll make today 6% pop a baby slope compared to the downside (which will be like a 3x diamond).... That's all folks :)

a292... LMAO... yeah it was the interest increase that caused this... HOLY CRAP we are screwed.... these are our leaders.... f'n pin heads! Hey we are at 0%, NYC RE must rise.... where's agentrachel.. I need to bid on multiple $5MM condos NOW! NOW!

w67, the government is so tightly bound to the financial sector that they have no choice but to pull out all the stops. Bernake already said he would use all the tools at his disposal. Ridiculous and meaningless claims being one of them. Let's see if he follows through on his suggestion of dropping money out of a helicopter.

Do you think the government would buy my bridge?

I just remember Paulson telling us everything was fine in August. I find it hard to believe in anyones "predictions". But I'm with Steve, I hope they are right.

Its a fine line (for a treasury/fed official) between being responsibly optimistic and spouting BS. They have clearly crossed over into BS territory, but I can't blame them.

80sMan, your observation is correct. the finance sector, gov't and its citizens are in effect in one big circle jerk.... (income/consumption leads to taxes, which funds gov't, which allows finance sector to lend/borrow to increase "productive assets" of economy.. which leads to more income/consumption etc) All I got to say is that for the last 30 years... the finance sector went to the highest yielding asset = > Home production and consumption! The party had to end sometime.... one good thing that came out of it is I got a car that can park itself.....

This is the "wake" up call we needed. Put money into healthcare, basic sciences, fixing social obligations of US Gov't and re-sorting our priorities as Americans... a manucurist with 5 homes... well we know what that led to ... and the band played on.... :)

This correction is "HUGELY STRUCTURAL" in nature and not an undershoot of "potential" production of US economy.... IMHO....

http://www.cnbc.com/id/29618546

AT&T hiring.

Is AT&T going to hire the 650k who are losing their jobs each month?

> subprime is contained:

What about Alt A?

Yeah, anytime StevF calls a bottom, it means more pain to come.

"Looks like we've got a house full of bears...well then it's time to buy. The fed has pumped 1 TRILLION dollars into the market already. What does that mean a year from now...inflation. Which in turn means assets become more valuable. It's not rocket science here, it's all been done before, this time is no different."

Oh yeah, this was... A YEAR AGO...

http://www.streeteasy.com/nyc/talk/discussion/3181-poll-whats-going-to-happen-to-re-market-in-ny

Only when Steve stops calling a bottom can there be an actual bottom.

nyc10022, question for you..How in the hell do you live with yourself? You are hoping for layoffs so real estate prices will come down. How sick and sad is that. It's people like you who make me want to resign from the human race. YOU ARE A VERY BAD PERSON.

like abby cohen, bernanke is a great contrarian indicator by now. geithner seems willing to begin his contrarian indicator reputation with this statement.

btw, anybody hear christina romer yesterday? i got scared. the whole thing sounded like scripted in a hurry. but at least she didn't say "i cannot give too much details..."

oh! so bernanke said it? is it MUST be true - like everything else he has said so far ..