This is definitely one of the quotes of the day that lines up most succinctly with what we have been saying this week - "we're not running the company as if we're in a Great Depression" (Jaime Dimon, CEO of JPM).

Nice call Mr. Dimon - we're on board with you there. People are freaking out about 2009, and you're providing some leadership to calm the fear that some investors should have had 12 months ago.

We are not going into a Great Depression. The only depression I see dominating New York's groupthink is in the bank accounts of the levered longs.

Keith McCullough