From Business Week (the magazine): Some of the worst financial predictions for 2008 and you can see why: “1. "A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!" — Richard Band, editor, Profitable Investing Letter, Mar. 27, 2008. 2. AIG "could have huge gains in the second quarter." — Bijan Moazami, analyst, Friedman, Billings, Ramsey, May 9, 2008. 3. "Freddie Mac and Fannie Mae are fundamentally sound.... I think they are in good shape going forward." — Barney Frank (D-Mass.), House Financial Services Committee Chairman, July 14, 2008. 4. "I'm not an economist, but I do believe that we're growing." — President George W. Bush, July 15, 2008. 5. "I think Bob Steel's the one guy I trust to turn this bank around, which is why I've told you on weakness to buy Wachovia." — Jim Cramer, CNBC commentator, Sept. 15, 2008. 6. "Existing-Home Sales to Trend Up in 2008" — Headline of a National Association of Realtors press release, Dec. 9, 2007. 7. "I think you'll see $150 a barrel [of oil] by the end of the year." — T. Boone Pickens, June 20, 2008. 8. "I expect there will be some failures.... I don't anticipate any serious problems of that sort among the large internationally active banks." — Ben Bernanke, Federal Reserve Chairman, Feb. 28, 2008. 9. "In today's regulatory environment, it's virtually impossible to violate rules." — Bernard Madoff, money manager, Oct. 20, 2007. 10. "There's growing evidence that parts of the debt markets...are coming back to life." — Peter Coy and Mara Der Hovanesian, Business Week, Oct. 1, 2007” THE WOMAN AT LEFT is saying something like "SAY WHAT?"
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