November 24, 2008

Soot and Ashes Quote of the Day (made by a fool who should have googled 'housing bubble' and found HousingPANIC)

"I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict"

- Ben Bernanke, the now-admitted Village Idiot, as quoted in the December 2008 issue of The New Yorker

15 comments:

patrat said...

I can not believe that people who call themselves experts and control vast amounts of money didn't know that all of this was happening. That is Bullshit. IMO there was just too much money to be made and too much pressure from those making it, for anyone to step forward with an honest call. Now we are all screwed and don't trust anyone. But the powers that be will figure out another way to scam. They are in the process as we speak.

What Bernanke Really Thinks said...

No, it wasn't.

chairman mao said...

At least no one has figured out that smoking causes cancer yet. Someone should take the "kick me" sign off his back.

May you live in interesting times.

vanilla ice said...

It wasn't complex you dope Bercracky. You just refused to see it for what it was.

Anonymous said...

Another Bushco sycophant who needs a taste of Prison. About 25-Life should do it.

The boys on the yard in block B will clue him Right In...

You Got a Purty Mouth, Ben.

Soon, Prison will be better than being a non-felon in America.

vanilla ice said...

Hey Ben did you look at this headline?:

"U.S. Home Resales Drop 3.1%; Foreclosures Push Prices Down Most on Record"

Bwahahahahahh!! Hilarious!

Lost Cause said...

My God, anybody could see that real estate was powering the economy during the last half of Bush years.

Anonymous said...

Why were average taxpayers like ourselves able to see this credit & housing bubble, and the experts not?

Maybe, since they don't live the mainstream life all the clues went over their heads.

Anonymous said...

Yes, I agree that all of these guys are too smart not to have known exactly what was going on and what the inevitable outcome would be. The 'bailout' money is being quickly and stealthily squeezed out into the mattresses of the powerful while they can still do the money-grab.

Greasy Taxi said...

Well, if the smartest men in the room are worried, than I should be panicking!

Guberville Smack said...

Thanks Bennie.
People sign up for your Housing Welfare Program owning nothing. Then they get to live rent free for a year in their trash box, saving up for a year as they default on the loan, and stash the money for a down payment on their next house.
The program works, just not as it was initially planned.

Anonymous said...

Any person who believes any of those crooks should be sterilized.

Paige Turner said...

RE: "I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict" - Ben Bernanke.

Subprime crisis, my rear end!

The subprime crisis could have been fixed with $1-2 trillion at most.

What we are experiencing is a derivatives crisis.

The Wall Street criminals, who are now in control of the US government, took horse manure, sliced it, diced it, gave it a triple-A rating and then peddled this perfumed sewage to investors all over the world.

But SH!T is still SH!T, even if it comes from Queen Elizabeth!

Investment fraud was committed on a grandiose scale and now the price is being paid -- by the taxpayers!

These Wall Street gangsters make Charles Ponzi look like a choir boy.

P.T.

Peahippo said...

Here's what I'm wondering:

How much more outright lying and stealing will you Americans tolerate before you stop paying taxes to fund these deceitful crooks?

You guys listen and watch all this happen, you listen to Bernanke and Paulson and Bush and McCain and Obama lie and lie and lie, and you watch the U.S. Congress and the Fed and the Treasury send TRILLIONS OF YOUR MONEY surfing into the accounts of the same class of elite, filthily-rich financial professional that caused all this mess ... and STILL you fill out your tax forms by April 15th like zombies.

When are you going to stop funding your rapists? It's like I live in a nation of COWARDS. None of you dares to DO anything.

Anonymous said...

We are being robbed. Yes robbed and you are still telling the robbers to steal more from us because it's not helping unions and others stay in power enough.
Necessity is the mother of invention. It’s time to pay the piper and create NEW industries and ideas. Yes, to CREATE is our strongest asset. In socialist USSR the word CREATE did not exist.