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Now here's a good reason to hate John Kerry....

EriktheRed

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Senator Kerry deserves special blame in this story because he could never be bothered to pay attention to the housing bubble, even when he was running for president in 2004. I recall urging his campaign staffers to pay attention to the bubble. It was like talking to Barney Frank's dining room table.

Of course Robert Rubin was one of Kerry's top economic advisers. Rubin was making tens of millions of dollars at Citigroup whose profits were derived largely from marketing subprime junk loans. So perhaps it is not surprising that Kerry had little interest in learning anything about the housing bubble.

Still it is more than a bit infuriating that Senator Kerry and his colleagues would now be lecturing the country on the need for hard choices. If they could have been bothered to do their damn jobs just a few years ago, we would not be in this situation today. As a result of their failure, tens of millions of workers are unemployed or underemployed. Yet the senators, who are still drawing their paychecks, want the country to sacrifice even more. Maybe now they can be persuaded to learn a little economics.


Dean Baker: John Kerry, The Lazy Senator Who Would Not Learn
 

Sallow

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Yeah..I'm not sure what he could of done even if he understood what was going on.

Ever try explaining the subprime scheme to people? Their eyes glaze over. That's after it happened.

I've gotten into fights with some very savvy people on the topic who seem to think this was all an error in math.
 

elvis

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misalignment of incentives...
 

Sallow

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misalignment of incentives...

Well there is that.

The dude was running for President at the time.

But the article is right.

The incentives thing is a myth. Companies are buying crap all the time. They are sitting on trillions in cash.

They aren't hiring. And I pretty much think a good amount of that is partisan bullshit.

They want alot of regs kiboshed. These guys think they are king shit because they've gotten their way for so long.

Time to take out a big stick.
 

elvis

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misalignment of incentives...

Well there is that.

The dude was running for President at the time.

But the article is right.

The incentives thing is a myth. Companies are buying crap all the time. They are sitting on trillions in cash.

They aren't hiring. And I pretty much think a good amount of that is partisan bullshit.

They want alot of regs kiboshed. These guys think they are king shit because they've gotten their way for so long.

Time to take out a big stick.

I have a whole list that explains what happened. Have to wait for another day though.
 

FuelRod

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John Kerry walks into a bar. Bartender says "Why the long face?"

John_Kerry-1.jpg
 

Sallow

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misalignment of incentives...

Well there is that.

The dude was running for President at the time.

But the article is right.

The incentives thing is a myth. Companies are buying crap all the time. They are sitting on trillions in cash.

They aren't hiring. And I pretty much think a good amount of that is partisan bullshit.

They want alot of regs kiboshed. These guys think they are king shit because they've gotten their way for so long.

Time to take out a big stick.

I have a whole list that explains what happened. Have to wait for another day though.

No need. I was sitting in the middle of it while it happened. John Thane was my boss for a short time. :lol:
 

Sallow

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John Kerry walks into a bar. Bartender says "Why the long face?"

John_Kerry-1.jpg

Then he asked him if he wanted an whiskey and he said..

Naaaaayyyyyyyy...

[ame=http://www.youtube.com/watch?v=wFSnLTo7dhk]Ren & Stimpy Short Mr Horse Returns - YouTube[/ame]
 

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