the best most relevant recent quotes in the world...

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. “We have a very strong global economy… and I feel very comfortable with the global economy.
-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. “In today’s environment, it is virtually impossible to violate rules.”
-Bernie Madoff [November 2007]

-2008
7. “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]

8. “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]

9. “I don’t think we’re headed to a recession.”
-President George W. Bush [February 2008]

10. “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]

11. “No! No! No! Bear Stearns is not in trouble.”
-Jim Cramer, CNBC commentator [March 2008]

12. “Later this year, I expect growth will pick up.”
-Henry Paulson, just after Treasury had mailed out 130 million economic stimulus cheques [May 2008]

13. “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]

14. “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]

15. “We’re probably somewhere pretty close to a bottom.”
-Fund manager Barton Biggs [September 2008]

16. “The fundamentals of our economy are strong.”
-US Senator John McCain [Sept 15, 2008]

17. “We remain committed to examining all strategic alternatives to maximize shareholder value.”
-Lehman Bros. CEO Dick Fuld, shortly before Lehman went bankrupt [Sept 2008]