Every couple of weeks, we get news that the subprime mortgage mess is finally ending, and that financial companies are getting back on track. Often, it is news like the Citigroup deal, reported by Reuters, that serves as the impetus for such claims:

Investors interpreted Citi’s move as a sign that financial
institutions were repairing the damage from a meltdown in the
U.S. subprime mortgage market and the resulting credit crunch,
which has been a big factor behind recent dollar weakness.

But the truth is that we don’t know if the fallout from the subprime mortgage mess is really ending. Perhaps Wall Street is getting a little relief, but there are still hundreds of thousands of "regular" folks who may still be affected. And all the economic impacts of the subprime meltdown may not really be seen for at least another year or so.