based on negative expecations...but what if those expectations used are wrong? And the recovery kicks in faster....home values rise....stock markets gained 40%....401ks recovering...investments gained...some hughly if you invested correctly...what if they gain more? Money in peoples/corporations/bank pockets. John Paulson took a major stack in RF, FITB, BAC....think he's just throwing his money down a rabbit hole? I don't think so. Z