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Quote:Warren Buffett, chief executive officer of Berkshire Hathaway said global credit crunch has eased for bankers, and the Federal Reserve probably
averted more failures by helping to rescue Bear Stearns Cos.

‘‘The worst of the crisis in Wall Street is over,'' Buffett said on Sunday. ‘‘In terms of people with individual mortgages, there's a lot of pain left to come.''

Source:
<!-- m --><a class="postlink" href="http://timesofindia.indiatimes.com/Intl_Business/Global_credit_crisis_has_eased_says_Warren_Buffett/articleshow/3010212.cms">http://timesofindia.indiatimes.com/Intl ... 010212.cms</a><!-- m -->

we'll see Obama's plan in action to overcome crisis. I really doubt the worst is over. I think this is the peak, but this peak will last from half a year to 2 years.

I don't know about Wall Street, but America's "consumerism" has plummeted. They feel the crisis like no other people. That's because they used to be and keep being the first consumers in the world. Now it's quite difficult for them to stint themselves