Monday, January 07, 2008

The Invisible Hand's Invisible Bitch-slap

From the Wall Street Journal: Text of Paulson Remarks.

After years of unsustainable price appreciation and lax lending practices, a housing correction was inevitable and necessary.

Ooh, ooh, ooh, the Spinning Jenny is spinning downwards.

Welcome to Planet Reality(TM), Mr. Paulson!

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