We're just too stupid but Bush and Paulson are smart?

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Almost two years after the Great Republican Recession meltdown drove the U.S. economy to the brink of collapse, and forced the U.S. government to bail out the Banksters with trillions of dollars, House Speaker Nancy Pelosi is claiming that the Bush Administration prohibited its own top officials who were dealing with the emerging crisis from briefing Congress, until a complete financial collapse was only hours away. The allegation is a major indictment of the Bush administration and may have worsened the crisis and resulting economic fallout by delaying the call for congressional action. Spokepersons for both former Treasury Secretary Hank Paulson and President George W. Bush deny the charge, apparently wanting us to believe that instead of trying to cover up the coming collapse while trying to postpone it until after the November, 2008 elections, they were instead just stupid, uninformed, and incompetent. That's a defense - that they were to stupid to know what was going on - that only George Bush and Hank Paulson would have the credibility to make.

Thom's picture
Thom
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Jul. 31, 2007 4:01 pm

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If you read Raj Patel's description of Greedspan's ideological trance state you get another "brightest and best" hubris fest. The Biz School Catechism in Market Economic Man religion really did capture the minds and imaginations of the leaders of Commerce.

What makes the case for me is the excess. Were we dealing with the Mob and with professional criminals, self-acknowledged, they would know how to manage Golden Goose egg production to max the laying and keep the Goose healthy. They would not advertize themselves as "the Pope of Wall St." or go on TV shows to talk about their criminal activities. OK what they did say on TV was dressed up to fit the ideological expectations of our consumer, "economic man" culture. But they were "rainmakers" and "wealth creators" and doing "God's work."

Should they have known better? OF COURSE!! But so should have the rest of us, and we did not rise up to show that we knew anything other than the Dow. There was a lot of money in the way. Still is. Even if the money is phantom wealth, it still spends like it were real. Gives those who have it and can use its leverage a meth high. Still does. But the headaches and rotting teeth are also real. Roasting the Golden Goose was a real meth high thing.

DRC's picture
DRC
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Jul. 31, 2007 4:01 pm

I can't tell which is worst, The title or your use of Nancy Pelosi as a credible source

Alpharius's picture
Alpharius
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Apr. 20, 2010 10:28 am

I agree with everything negative said about the Bush/Cheney Cartel and more, unfortunately, it does not seem like the current administration believes in accountability for those that preceeded them, that might make them accountable at the end of their own term. Obama is better than Bush (so is dirt), but let's call him out when need be as well. Goldman Sach's tipped him well during the campaign, let us not forget..

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Fed4Profit
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Apr. 13, 2010 9:42 am
Quote Alpharius:I can't tell which is worst, The title or your use of Nancy Pelosi as a credible source

Well, Nancy Pelosi may be a twit, and even a twit knows whether or not other twits have informed them of what's going on or not.

Would Congress have done anything differently had they been informed hours or days sooner that a meltdown were underway? Nope. Twits respond like twits. They have an ideology to maintain.

The Chief economic meltdown twit, Bernanke, has been re-appointed to head the Fed to the applause of the other twits who helped engineer the meltdown. They make up Obama's economic team. Obama's chief economic advisor was once CEO of Goldman Sachs. A quick bailoutout saved him tens of millions. He was a twit too big to fail.

Nancy Pelosi may be a twit, and even a twit knows whether or not other twits have informed them of what's going on or not.

Retired Monk - "Ideology is a disease"

polycarp2
Joined:
Jul. 31, 2007 4:01 pm
Quote polycarp2:Well, Nancy Pelosi may be a twit, and even a twit knows whether or not other twits have informed them of what's going on or not

Highly doubtful.
She is a liar and a Political hack. CIA/Pelosi waterboarding talks come to mind.

Alpharius's picture
Alpharius
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Apr. 20, 2010 10:28 am

Since when have pliticians been known for truth-telling? Twits can't tell a fib from what's actually so. She even touts the truthful wonders of the invisible hand of the free market...which Nobel Laureate and former Chief Economist of the World Banks calls a "myth...a religion".

Lots of twits roaming around who think they are telling the truth rather than repeating fibs.

Nancy Pelosi may be a twit, and even a twit knows whether or not other twits have informed them of what's going on or not. Informing wouldn't have changed the Congressional response..of twits.

Retired Monk - "Ideology is a disease"

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polycarp2
Joined:
Jul. 31, 2007 4:01 pm

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Why the Web of Life is Dying...

Could you survive with just half of your organs? Think about it. What if you had just half your brain, one kidney, half of your heart, one lung, half a liver and only half of your skin? It would be pretty hard to survive right? Sure, you could survive losing just one kidney or half of your liver, but at some point, losing pieces from all of your organs would be too much and you would die.

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