Cheney says "No one was smart enough to figure it out", page 5
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ATS Members have flagged this thread 20 times


reply posted on 9-1-2009 @ 04:33 PM by liquidsmoke206
reply to post by Dr Love



I'm pretty sure you offended Dick Cheney and his immediate family, but then, who cares?


reply posted on 9-1-2009 @ 05:06 PM by skeptic_al
Originally posted by fnIrish
Originally posted by Lazyninja
reply to
post by interestedalways



Not to defend Cheney, but this sounds like a quote out of context, perhaps: nobody was smart enough to figure out how to fix the economy.


We have oversight committees in the House and the Senate who's JOBS are to know and police this stuff. They fired the guy that ran Fannie Mae because he was cooking the books (he's now an Obama economic advisor). Fannie Mae was a huge contibutor to Barney Frank's campaign. Barney Frank ran the committee that should have known it was happening.

Then, Bush comes out with this genius idea to write $700 billion in blank checks with little or no oversight or accountability. Good Lord.

The problem is/was that the money was too good to pass up and they just hoped it would just all work out.


But the really bad thing, is the first ones to benefit from the
700Bil pension fund was to pay themselves 70Bill in xmas
bonuses for doing such a good job.

for lack of a better word

Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.


reply posted on 9-1-2009 @ 05:28 PM by LAUGHING-CAT
reply to post by Alxandro



I will beg to differ with your assessment that no one saw this coming.
I have been in residential and light commercial construction for almost 30 years and when a British fellow offered me a $250,000 a year opportunity, 2 1/2 years ago, I had to say no.
I saw the profit of new work go from 8% to almost 50% in the boom.
Houses that were never lived in were being flipped for astounding profits and were never made a home. Investment speculation led the charge.
The builders found themselves in the position of competing with their customers. Greed and the prospect of fast money for little work was rampant. I saw units flipped 4x within a year, no occupant.
I digress, I saw this coming and chose to stay at my current employ because my common sense said the bubble will burst.
And for those that choose to blame Bush alone, I say to you, congress, riding high on the unprecedented wave of profit, mandated to lenders that mortgages be allowed to people that had no idea what was being done TO them.
I am still working, for now, and it is too easy to pick out the houses that people that were not prepared for home ownership are.
I don't blame these folks, I blame the easy money mentality, the group-think that nothing will stop the wave people in D.C.


reply posted on 9-1-2009 @ 09:51 PM by sebarud
reply to post by Suckatash




Would you please stop trolling threads all over the board.




reply posted on 10-1-2009 @ 09:46 PM by Maxmars
reply to post by Suckatash



Looks like I missed a problematic post...., I wonder what it was? Name calling?


reply posted on 10-1-2009 @ 10:34 PM by interestedalways
Originally posted by Maxmars
reply to
post by Suckatash



Looks like I missed a problematic post...., I wonder what it was? Name calling?


I am really not sure what happened.

I think it was someone hitting alot of threads with something unrelated.
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