My current favorite Bear Stearns quote du jour come from Treasury Secretary Henry Paulson today. The preternaturally placid Paulson had this to say about the Bear Stearns bailout:
As we have been saying for some time, there are challenges in our financial markets ….
Challenges? Challenges? A major brokerage firm is on the verge of collapse, and is bailed out in unprecedented fashion by the Fed, and he is musing aloud about "challenges". Who replaced Paulson with the Dude, just hanging around out there in the markets, "Takin’ ‘er easy for all us sinners."