The Worst Predictions About 2008

Just read an article from BusinessWeek online.

The Worst Predictions About 2008, an article written by Peter Coy about 10 of the worst predictions that were made in 2008 and I thought a few of the predictions were pretty funny to share on:

4. "The market is in the process of correcting itself." —President George W. Bush, in a Mar. 14, 2008 speech

For the rest of the year, the market kept correcting…and correcting…and correcting.

5. "No! No! No! Bear Stearns is not in trouble." —Jim Cramer, CNBC commentator, Mar. 11, 2008

Five days later, JPMorgan Chase (JPM) took over Bear Stearns with government help, nearly wiping out shareholders.

9. "In today's regulatory environment, it's virtually impossible to violate rules." —Bernard Madoff, money manager, Oct. 20, 2007

About a year later, Madoff—who once headed the Nasdaq Stock Market—told investigators he had cost his investors $50 billion in an alleged Ponzi scheme.

Happy Holiday Seasons,

Leroy

"When I Stop Learning, I Stop Living."