One year ago today the world's financial system began a meltdown ( Read more... )

"In August 2007, Secretary Paulson explained that U.S. subprime mortgage fallout remained largely contained due to the strongest global economy in decades. [22 ( Read more... )

"...congressional leaders were told [[last night, by Bernanke and Paulson]] "that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.""http://www.nytimes.com/2008