HousingPANIC Stupid Question of the Day

Have we just recently started the next leg down?
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And for fun I give you this now-hilarious quote from Ben Bernanke:

"At this juncture, the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained"

- Ben Bernanke said in prepared testimony to Congress' Joint Economic Committee, March 2007.