Meditate on this statement. Repeat it to yourself out loud and think about the what it says about the elites who guide policy and macro decision-making in the USA. Do two separate meditations - one where Messr. Paulson truly believes every word he utters and a second where he is lying:
"I don't see subprime mortgage market troubles imposing a serious problem. I think it's going to be largely contained," -US Treasury Secretary Hank Paulson, April 2007
Bonus Meditation: The Mogambo Guru issued a similar class exercise several years ago. I bring it out now for your consideration - To what circle of Hell, as depicted by Dante, will Alan Greenspan be consigned for his part in fueling the Greatest Credit Bubble of All Time?