Bernanke says not to worry, that this is nothing but a repricing of risk… Paulson Says Subprime Rout Doesn’t Threaten Economy

But this repricing is having some tangible effects in the financing markets. Not to mention that the rest of the economy can not help but notice that people are not buying new homes.

The Wall Street Journal did us a favor and collected a list of the major hiccups in the credit markets that have emerged over the last six weeks. Note the increasing pace…

SCORECARD: DEBT DILEMMAS

Looking at this scorecard and the rest of the markets over the last few days makes me wonder whether Mr. Paulson and others are simply expressing wishful thinking. I hope he has more/better information than we do.