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Cheney says financial crisis was not foreseen

January 9, 2009 by  

Cheney defends President BushThe current financial crisis was completely unforeseen by the Bush administration, according to vice president Dick Cheney.

In an interview with the Associated Press, Cheney claimed that people could not place blame for the economy’s collapse on President Bush because "nobody anywhere was smart enough to figure it out."

When asked whether Bush should apologize for not doing more to prevent the recession, the vice president said, "I don’t think he needs to apologize. I think what he needed to do is take bold, aggressive action and he has."

During the interview, Cheney also defended the methods of interrogation used on suspected terrorists, as well as counterterrorism surveillance programs.

He said that there was no reason for Bush to consider pardoning those who engaged in such measures, as they were legally authorized to do so.

"My view would be that the people who carried out that program … in fact were authorized to do what they did and we had the legal options that in effect said what was appropriate and what wasn’t," Cheney commented.
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  • Bob Livingston

    Who benefitted from the financial collapse? It is the money creators-the “bail out” people. The money printers behind fiat government create paper money (non substance) and exchange it for American wealth that was collapsed by the same system that is picking up the spoils. It’s a money issue pure and simple. All other debate about “who done it”, is spurious issues and only serves to divert attention.

    Cheney defended the methods of interrogation used on suspected terrorists but Cheney never mentioned that the Bush Administration signed away a historic American personal liberty in the form of Habeas Corpus. Translated this means that any American could be called a terrorist and picked up for questioning or locked up and never be charged.

    • D. Thomas

      I would have to agree that the economic collapse was unforeseen, the demands on the lenders, and the prescribed force attitude of buy buy/debt debt took hold of consumers. The way the government acted, and still acts has proven the same p* poor attitude of spending, with no remorse with no way of ever paying it back. Well my friends we are not the Government! We get kicked out of our houses, we get non-stop collector phone calls, loss of **UNDESERVED property. Some body hast to make the money, we have nothing to offer that the lenders want.
      The the filthy rich have the power to offer every thing, were talking about global wealth. If they bail out Lenders GIVE our money to banks, pay JP Morgan to buy Banks (lenders), they will cover his losses if he buys 5% of silver (paper).
      Of coarse it was unforeseen.
      It was the biggest money/power maker the Federal Reserve Broad ever had.
      I was almost as if it was Planed.

    • robert

      “Financial Crisis not forseen?” Are you kidding…it was PLANNED! Read “The Creature From Jekyll Island”. “Things” either happen by accident or they are planned. All you have to do is look for who profited from this criminal act and who lost.

      • Edge

        Robert,

        True. Creature from Jekyll Island, written in the late eighties spells out the entire scenario of how to crush the American economy and force a world currency. But the only thing it misses is that George Soros manipulated the Chinese to hamstring their banks and kill the US credit line. And he did it within 48 hours of his boy being even in the polls with McCain. The liberal press started the Mortgage wars at his bidding because as the election drew near in 2008, it was necessary to force the economy into shambles. When the first calls went out about the “mortgage crisis” only 1% of all mortgages were in default. But Soros was propping up the bastions of the liberal press and they continued to sing their song of doom until everyone believed it. All the while hiding the democratic caused fraud at Fannie Mae and Freddie Mac.
        When it all came down in a plot worthy of the old Mission Impossible or 24,
        McCain unfortunately, when faced with the poker hand of his life, folded and went with the namby-pamby Republicans. Had he stood up and said “Nuts” to the bailout, and challenged the Chinese to get their hands off our necks, the Soros gambit would have failed and the POTUS would be McCain. But instead, we have the Soros Sock Puppet and soon to be a one world government.

  • KarenLee

    This is the history off all paper currency. When the people find they can vote themselves money, the currency and the government collapse. The people lose their rights and dictators take over. Happens every time throught history. We need the gold standard. The bureaucrats don’t like it because they can’t vote promises to the people….then because they can’t give promises to the people they get voted out. This is all the people’s fault. The people don’t have not morals and values any more. No, I’m not a raving Christian, but this country succeeded because vallues make a representative republic work……Thomas Jefferson said so. We’re doomed to fail. I’m just deciding where to live most anonymously.

    • Mike Martin

      Hi Karen

      You understand the true nature of this crisis that we are entering into in the World. I believe strongly that the US and many people around the World are going to need gold to secure their future. Just a few months ago I joined a company that is allowing people from around the world to exchange their fiat paper into gold via secure online software. Don’t relax and fall prey to the naysayers that it could not happen to the US.
      Watch with anxiety how things are going to change. Take Care

  • John

    Nobody was smart enough to figure it out. Maybe nobody at the White House but certainly elsewhere.What he meant to say was “Nobody bothered to look at the rising and unsustainable cost of housing.Rising consumer debt and investment bankers were out of control. We, much like Mr.Greenspan believed everyone would regulate themselves”. I personally said to many friends and business associates back in
    2005. The housing market has to come down it can’t stay an up market much longer. Turns out I was right, only I had no idea just how much was riding on the entire subprime market.

  • TeresaE

    Really? No one?

    I was able to look into my crystal ball and see this. And I see that in two years we will be looking back at today fondly.

    Dear gawd, if “experts” and politicians cannot figure out the real problem-and it isn’t subprime loans-we are doomed.

    I saw this freight train barreling down when my customers bankruptcies, mergers and closures moved from just Michigan, to the entire US.

    All major American corporations have decided that offshoring was a good thing. And for profits, tax revenues and Wall Street, it was-temporarily.

    American business backed by greedy politicians decided the American middle class was expendable. And they continue to import over 2 million legal visa workers last year even as our economy burns.

    Next, amnesty and removal of caps on visas. And the experts actually think a few trillion is going to make up for the greatest theft of the middle class in the world?

    bwaaahaaaaa..

    Stockpile food and ammo, maybe that will keep your family safe long enough for your neighbors to kill each other off. But I doubt it.

    In 3 years as millions are living & starving in tent cities Biden will be the one saying, “we didn’t see this coming”. Well, I do and I am preparing.

    • Lindy

      Teresa E.
      Let’s organize a group to fight back (No Violence other things we can do.)
      Let’s not just watch football and go shopping while they steal our country.
      Please email me. cowboyds51@hotmail.com or Lindyranch@hotmail.com

  • http://www.itrco.net robert patrick

    There were plenty of people who saw the economic collapse coming. All of us with common sense knew that you cannot loan money to people without income to repay the loan. We all know that the banking system is filled with greed and if they see a path that leads to profit they will take it, irregardless of the risk. The crooked officers in the failed banking and the paper brokers on Wall Street should be locked up with other criminals. Until someone is made an example of this will continue. While we are sending these crooks off, we should round up the politicians that protected them along their way to millions of dollars. Sloppy regulation is the root of the cause. You cannot turn your head and look the other way if you are standing next to a pick pocket artist and that is precisely what these guys are.

    • http://? John M.

      Politicians, not statesmen, promise a gravy train for votes. I.e, “Vote me into office and I’ll get you what you want. ” The “good of the country” is not their goal here. It’s getting elected to Washington where the payscale for being a Representative or Senator is lucrative; not to mention the retirement benefits. Lending money to people who have a poor credit rating and/or no income is about as insane as it can get. With this kind of management the idea of enjoying the fruits of one’s labor goes into the sewer. We might as well GIVE every citizen a monthly paycheck even if he/she doesn’t work, a luxury car for the garage, a $400,000 home and anything else he/she wants. To heck with going to work for a living. And where does this wealth come from? “Who cares?” they say. Just gimmie mine and leave me alone. This seems to be the “new” math for economy. It is the mentality of the street people who have zero connections to reality. The economy is broke and it needs fixin. Suggestions: Seal the borders to stop illegal immigration and employ sharpshooters as security guards. Deport all the freeloaders drifting in and flooding hospital emergency departments. Make any necessary changes in the Constitutiion to stop the “egg laying” provisions for birth of babies inside USA to take away the loophole giving remainder of family a ready excuse for “need” to be American citizens. Enact strict and high penalties for those lending to individuals with questionable capacity to repay loans. Require “proof of origen of income” for those purchasing high price automobiles, homes, seacraft, aircraft and acreage. I happen to work for a living and have nothing to hide. Unless we carefully consider the goings-on in the country today America might be headed for her demise. Liberal, socialistic agenda will eventually put the greatest nation on earth right where “the equal distribution of misery” is the final goal. What does this mean? Consider the Russians finally got rid of that evil system and today are trying to keep it chained and locked away from humanitarian interests. We need to destroy all the snakes trying to dysrupt our quest for Life, Liberty and the Pursuit of Happiness. The price of Freedom is Eternal Vigilance; with proactive war on those who attempt to take it from us. That is life.

  • http://none ollie

    Clearly both the financial collapse was easily foreseen. The Fed has only one real job and that is to supervise the goals, methods and ethics of the banking world. They completely failed at this endeavor! Now we see a strategically placed array of financial subversives coming to light, supported by subversive deregulation buried on page 995 of the Commodities Modernization Act that Clinton signed. All this follows the same general pattern of the crash of 1928.

    The Geneva Convention outlawed torture, and Cheney must realize that if he resorts to torture, it will only increase the torture that soldiers and civilians will later endure. Torturing to end torture is like fucking for chastity. But what can you expect from a guy who shoots his own hunting buddy in the head! If ever God and synchronicity gave us a clue, that was it!

    WE NEED A WEB ORGANIZED TAX STRIKE IN THIS COUNTRY, NOW, TO CLEAN HOUSE AND GET SOME NEW AMENDMENTS IN PLACE, NOW!

    • Lindy

      Ollie, I am with you. Let’s get organized, they are stealing our country and we are just standing by and watching. What do you think we should do?

      • http://none ollie

        Lindy: start a national strike website that polls Americans. When we reach a consensus on a list of items we set a date for a strike. We do not stop the strike till we get our demands. They will probably give in before a strike if they can see we have the people and the will. WE need a list of things people want like Internet voting, health care, stopping the war machine, repairing infrastructure, .Broadband for everyone, public budget, no secrets, nationalize oil, etc. etc. whatever the people want they get. Give power back to the people. Move from a corrupted “representational” democracy to a live and online democracy.

        What do you think?

  • http://none ollie

    Clearly the financial collapse was easily foreseen. The Fed has only one real job and that is to supervise the goals, methods and ethics of the banking world. They completely failed at this endeavor! Now we see a strategically placed array of financial subversives coming to light, supported by subversive deregulation buried on page 995 of the Commodities Modernization Act that Clinton signed. All this follows the same general pattern of the crash of 1928.

    The Geneva Convention outlawed torture, and Cheney must realize that if he resorts to torture, it will only increase the torture that soldiers and civilians will later endure. Torturing to end torture is like fucking for chastity. But what can you expect from a guy who shoots his own hunting buddy in the head! If ever God and synchronicity gave us a clue, that was it!

    WE NEED A WEB ORGANIZED TAX STRIKE IN THIS COUNTRY, NOW, TO CLEAN HOUSE AND GET SOME NEW AMENDMENTS IN PLACE, NOW!

  • ONTIME

    In concurrence with Robert, this financial crisis was planned and instigated by the very perps who are now supposedly in charge of leading us out of their contrived wilderness. The idea that these con artist can be trusted is ludicrous and illegal, in fact the best idea is to investigate, incriminate and incarcerate a large portion of the congress if not for a criminal acts then incompetence would serve.

  • Edge

    Oh, and has anyone actually bothered to wonder about the following:

    Chris (Countrywide) Dodd is still in office
    Kent (I didn’t know these were special rates) Conrad is still in office
    Barney (Fannie and Freddie are fine, you racists republicans) Frank is still in office
    Tom (uh, do I ever get a trial?) DeLay is out of office and had to leave in disgrace
    Scooter (scapegoat) Libby was convicted?
    Democrats call this the worst economic times since the Great Depression (you know, when Biden saw Roosevelt on TV) yet we are spending the greatest amount of taxpayer dollars on the most elaborate, expensive, and self-aggrandizing, inauguration in American History. And the liberals. like Maya Angelou and others of her insipid ilk sit and get weepy over it?
    How about we have Franklin (100 million) Raines just invent the money to pay for it like he did in 2006?
    Why if Soros isn’t running the Government does Al Franken matter to him?

    Just curious if anyone else notices this?

  • Edge

    Anybody want to join Citizens for the Rejection of Arrogant Politicians or CRAP?
    How about 2010 being the year every incumbent loses. With 2012 a repeat. Four years and they are all gone and the oversupply of lobbyists devalues that profession to street whore level. No Teddy, Dodd, Pelosi, Feinstein, McCain, Obama, Clinton, Conrad, Biden, Boxer, Wexler, etc.

    Too good to be true? Maybe, but not even the Democrats can rig every election.
    Oh, and when you look at your 401K just remember that the elected politicians haven’t lost any of their retirement, because that is us.

    • http://www.bellsouth.net John M.

      Good idea Edge. I’m all for it. I tried to “clean house” in my local County but there are too many status quo folks who like to wallow in the same old nasty slop of cronyism. JM

      • Edge

        Thanks JM,

        There are a lot of us good folks out here like you and Lindy. I think it is really time to start the conservative revolt. But as many are, I have a barely 6 figure income, 5 kids, and can’t devote myself to establish CRAP because I don’t get anything from anyone and I don’t want it. But I have always wanted to find a way to get folks like you involved with me so we could make a difference. Maybe it is time to quit whining and just start swinging. Maybe, being facetious aside, if all of us start talking to each other and finding a way to share our community thoughts, we could take this somewhere. Anyone have a rich uncle who wants to buy us a server or three? I am tired of being frustrated and angry. Time to get effective, and powerful. Anyone else agree? Let me know

        Edge

  • Lindy

    We need to organize and get the word out in 2 years, vote out all incumbents.
    We should also make some citizens arrests, that may get some of these public servants attention. They are trying to take over our country and we are all just standing by with our mouths hanging open. I am not calling for any violence,
    but I think it would get their attention if we did halt paying our income taxes
    in 09 and tell them they are not very good at spending our money, so we will not pay until we get some honest, straight talk and some politicians behind bars for what they have done. We need some one to set up a web site so we can email it all over the USA, while we still have some freedoms. But be wise start stockpiling food, water, first aid, batteries etc. This is headed towards breadlines for many in our country.
    Should we share email addresses? So we can get something done, seriously while we can still be proud Americans. Look up ” Socialist International” very interesting.
    I will start and give my email. cowboyds51@hotmail.com God Bless USA

  • kristian

    I agree, I saw this coming as did many people that I know. You can’t basically give away homes, vehicles , etc. to people that do not qualify for them. To do this is insane. What ever happened to having to have a good credit rating? It’s like they just let that slide with some people for a few years there. They were just like, oh well, we’ll just worry about the fall out when it happens. The problem is they aren’t dealing with it. The people who started this crap have pulled up stakes and ran out of town. The American public can’t really sit and boo hoo about it though. We have allowed these people to be in office and do this to us. It’s time for us to get on track in this country and stop thinking we are owed something for nothing. It’s that way of thinking that has nearly bankrupted this country. I also agree about getting these bozos out of office. I thought they worked for us? That is how it’s supposed to be, right? It infuriates me when these worthless sob’s go against our will and yet the masses are still dumbed down enough to vote them right back into office. If something isn’t done, we won’t have to worry about paying a house payment because we won’t have a country anymore. Stop the entitlements and start making everybody responsible. If you didn’t work for it, then you don’t deserve a slice of the pie. Last but not least, I am sad that we have allowed our president and congress and all of the other elected officials , to ruin our country. There are people that like to try and place blame on one party or the other or just on the president or this person or that person but truth be told. It is we the people who are guilty of letting this happen, as we are the ones who allow them to remain in office. Stand up for what is right not what is easy. Fight for our country and our children and grandchildren may have something to look back on and be proud of. Don’t take “We didn’t forsee this happening” as an excuse any longer. Many Americans are getting pink slips, it’s time we pass those on to the people who really deserve them, our supposed representatives. The same people who sit while our fellow Americans go on losing jobs day after day, yet allow countless people from other countries to enter this country and take jobs and food from our neighbors, friend and families mouths. It’s time to say no more, I think it’s time for another “TEA PARTY”, only this time it’s not just going to be in Boston.

  • Patrick

    This is just an effort to rewrite history so the Bush Administration will have done something during the past eight years. To deny they knew about this economic situation is indeed trying to save face.

    How is it my broker started over two years ago, to protect my retirement funds because things were coming down. He, a big Bushie, had to admit, the administration blew it and we were headed into one of the worse economic times since 1929, This is well before all the new broke about housing, about, the trillions of dollars borrowed to bail out bad business. Maybe, just maybe, if Bush had read, if he can read, the WSJ or some other financial media, he might just have known about it.

    Please, how gullible do they think we are! Just a few more days and the Neo Con fiasco will be history, I hope, and real, honest, conservatives will be available to pick up the pieces and move forward.

    I personally am going to Monticello and make sure Jefferson hasn’t kicked the dirt off his grave.

    • Edge

      Patrick,

      I hate to break it to you, but in two weeks your Bush Derangement Syndrome will be yesterday’s news and you will need to find a new outlet for your blame. You could start with Kent Conrad, Barney Frank, and Chris Dodd for starters since you feel the need to assign blame to individuals. You could look at the economic downturn since the Pelosi/Reid houses came to power and compare that with the previous 4 years. But you won’t because stupid ole GWB is the root of all evil. Even though he is ostensibly a moron? Figure out which GWB you believe in. The Machiavellian brilliant manipulator, or the brain-dead Village Idiot of the Daily Kos. But he can’t be both.
      Check the real history of everything related to Fannie and Freddie since 1974 and you will see the truth, if you dare. Plenty of blame to go around, but the big time power players don’t include your favorite whipping boy.

  • CharlieRight

    The financial collapse was contrived and timed perfectly to cause enough enough fear to elect a socialist . The People are now ready to give up the liberty that was bought with blood for the perceived security of a Socialist dictator.
    I am just a country boy but, isn’t that what happened in Rome when the senate turned over their democracy to Ceaser.
    If there was a Republican who could be blamed he would be on trial by now.
    No wonder they feared Sarah Palin. What would an honest person cause in Washington? Had she been elected and really presided over the senate as the constitution requires we would have seen some changes.

  • http://AMiles1@tampabay.rr.com Allan

    Politicians live in a corrupt world all their own. If it doesn’t eat into their wallet they will walk around with blinders on. We the common folk saw all the foreclosures, a most erratic Wall Street, prices bouncing all over the place. Every politician is in office because they already had money from walking over you and me. We need our representatives to actually listen to us and not reply with standard reply to all attitude. CEO”s pay needs to be reduced to establish an overall income media level on which to base all costs for foods and services. At one time there was the rich, upper middle class, middle class and the poor. Today it’s the super rich and those trying to exist. The corrupt need to be brought to justice which would include FINANCIAL REIMBURSEMENT to the taxpayers.

  • Mung

    Very convenient indeed! Unforeseen financial crisis. I kept watching the economy from the bust of dot.com up to the 2006, and I knew something was going to give big time. Alan Green Span did hint here and there, but reading between the lines could be a challenge at time. I am not the insider, but I saw the risk long ago. I would not be surprised if it were planned so we can have a one world government.

  • George

    What a wonderful spin by the New World Order! If only Americans would wake up to what is happening in this country.

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