Subprime crisis will hurt world economy

The CEO of the largest bank in Germany says the US subprime problem will hurt the world economy, something which seems obvious enough. Yet this is not something you’ll hear from CEOs or governmental officials in the US. Why is that? Why this great pretense that everything is just fine? This evasion and delusion over the growing credit crisis echoes that of U.S. government propaganda about the Iraq War. We Have It Under Control, they say. But they don’t.