Bob Doll of Blackrock predicted we were at the bottom of the housing crash when Lehman Brothers failed. Bear-Stearns, Countrywide, Merril-Lynch, even some local banks here all failed and things just kept falling as all those funnymoney securities built on bad mortgages failed. Blackrock then proceeded to preside over and report the largest (to that date) corporate mortgage default in history, while loaning money to the government to keep them from failing. It was obvious to anyone who had been following the mortgage market, even at a distance, that the NINJAs would eventually come home and that someone was going to pay. The moral of the story is they're lying. I wish I'd kept all those Blackrock reports my employer used to post. They were hilarious.