ANDREA SEE had some words of wisdom on the economy back on 9/3 that alarmist journalists and pundits should remember now:

Anyone with half a brain (and did a basic class in economics) would know economies move in cycles. We’ve had the high point, now it’s time for the low. Sucks as it does, it really needs to happen.

The same guys who hyped the upturn are now tut-tutting as they hype the downturn. Me, I’m meeting with my broker this week. When the blood runs in the streets, buy.

And, by the way, it’s not as if financial fraud is an American innovation, you know, despite what the New York Times suggests.