9.06.2008

Credit crisis over!!!

Thank goodness. The credit crisis is over, according to Wall Street's most revered bank CEO, JP Morgan's Jamie Dimon.

In mid-April, Dimon called it:
Dimon said on a conference call with reporters that the credit-market crisis may be as much as 80 percent over.

The problem "is working itself out," Dimon said.

The crisis really got under way, by most people's reckoning, last summer. So if we were 80% done in April, it's completely over now in September. This is true whether you measure in time or in the level of any index of financial stocks.

Whew! Glad that one's over. Buy a house now before it doubles!

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