Upside Down Mortgage

2007 Subprime Crisis

Question: Dick Cheney says no one saw the financial crisis coming. Do you believe him?

http://news.yahoo.com/s/ap/20090109/ap_on_go_pr_wh/cheney_interview

I don't because I DID see it coming. In fact, it wasn't very hard to figure out either - anyone who had a subscription to the Wall Street Journal since 2007 and actually read the paper probably saw it coming. I know I already saw major articles coming out about it back then, and even as far back as 2004, investment professionals were talking to me about the dangers of the newly popular "interest only" subprime mortgages if home values were to ever drop.

Dick Cheney may have been trying to absolve Bush of any wrongdoing by saying this, but I think he just make out his President to look like a total dumbass. Again.

YOUR THOUGHTS?
Fishin' In the Dark: I've got one word for you: REPORTED. Keep your spam to yourself, troll.

Answer: Harry Whittington didn't see Dick Cheney coming.

Bernie Madoff on the modern stock market

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