01
03/10
Great Quotes of the Recession/Depression of 2008-2010
by John Galt
March 1, 2010
As a historian, I could not resist putting my bid in for the classic comments of the morons who have been working to bring our Republic to its knees. So without further ado, I shall let their own words speak for themselves and you, like history, can be the judge.
June 27, 2005
Barney Frank: “This is not the dot com situation” discussing the point that others have made that the U.S. was in a housing bubble.
August 18, 2007
Ben Stein on Cavuto on Business 45 seconds into feature: “The subprime problem is a problem but it is a tiny problem”
October 31, 2007
Jim Cramer: “You should be buying things and accept that they are overvalued, but accept that they are going higher.”
January 27, 2008
Jim Cramer VS. Rick Santelli: “Have you watched my show? I’ve been calling a bear market.”
Same video….
Brian Wesbury: “I do not think we are going to have a recession.”
FYI Brian: The economy had been in recession for two months by the time of your statement.
March 11, 2008
Jim Cramer: “Bear Stearns is Fine!”
September 15, 2008
John McCain: “Fundamentals of the American Economy are Strong”
October 23, 2008
David Faber: “The Washington Mutual guys don’t even know about this.”
The seizure of Washington Mutual by JP Morgan Chase via the FDIC. Yet for months the “gurus” preached that WaMu was one of the most stable and safe banks in the United States, oh and of course to hold the stock as it cratered through 20, then 10, then 5….
December 16, 2008
George W. Bush: “I’ve abandoned free market principles to save the free market system”
January 21, 2009
The current head of the IRS and former supervisor of all the investment banks that failed (Lehman, Bear, etc.) when he was to oversee them as President of the Federal Reserve Bank of New York blames Turbo Tax. It doesn’t get any better than this.
February 22, 2009
Rick Santelli: “…reward the people who can carry the water instead of DRINK the water….”
Rick Santelli: “We’re thinking about having a Chicago Tea Party in July….”
