Quote Of The Day

Ron Insana is one of the more sane voices on CNBC. To his credit he has been consistently claiming that the extent of the problems in the credit markets have been under appreciated. Yesterday he went a little further:

Ron Insana on CNBC, 02/14/2008, “I’m going to go way way out on a limb here, because I think this credit crisis is so viral and is spreading so quickly to all corners of the credit markets.........I think ultimately when this is all said and done, the Fed is going to have to be the Bank of Japan and got to zero interest rate policy to reflate our way out of this thing. I think this is still far bigger, far more misunderstood than anybody knows. This is a real crisis of historic proportions and still no one is paying full attention.”

Dire stuff,