"Chief Executive John Mack echoed Thain's sentiment that financial firms may have finally tamed subprime write-downs."

Sure with a bailout from the FED\taxpayer. Who's going to give the slob in the street what amounts to interest free loans with due dates that can be pushed indefinately into the future. I haven't received that offer yet from any of the banks that send ME credit card offers....just a reminder that the special introductory rate goes to 30% if I'm late on one payment. The system sucks. You can't beat "The Man".