It was a classic piece of propaganda how the media and government convinced the people of the nation that the credit crisis was largely contained to subprime mortgages. People are watching many, many houses enter foreclosures across the spectrum of mortgages (subprime, alt-A, prime) and are STILL refusing to understand how wide the crisis really is.
After Jan 10th, 2009, all this talk of bailouts will CEASE. And then the real depth of the Great Depression II will yawn open in front of Mr and Mrs Dumbfuck American.