BusinessWeek's
top ten worst predictions of the year are real doozies for 2008. For instance:
3. "I think this is a case where Freddie Mac (FRE) and Fannie Mae (FNM) are fundamentally sound. They're not in danger of going under…I think they are in good shape going forward." —Barney Frank (D-Mass.), House Financial Services Committee chairman, July 14, 2008
Democrat or Republican; conservative, liberal or other, everyone can make catastrophic errors in judgment. Yes, even Barack Obama. Let's hope he doesn't, but you put great trust in experts at your own peril.