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Paulson says markets emerging from crunch - Reuters (5/7/08):

U.S. Treasury Secretary Henry Paulson said U.S. financial markets are emerging from the credit crunch that many economists believe has pushed the country to the brink of recession, according to The Wall Street Journal.

“I do believe that the worst is likely to be behind us,” Paulson told the newspaper in an interview.

On Monday I noted that when President Bush assured everyone that his administration had been nothing but “clear and candid” about the economy, it seemed as if he was almost certainly excepting Paulson.

Looking at the calendar, I see that it’s been just over a year since Paulson’s notorious bottom call on housing:

“All the signs I look at” show “the housing market is at or near the bottom,” Paulson said. The U.S. economy is “very healthy” and “robust,” he said

I wonder if Paulson would entertain a little wager. If he’s right, I’ll have his current quote tattooed on my forehead. If I’m right, he gets his April 2007 quote tattooed on his forehead.