Skip to: Content
Skip to: Site Navigation
Skip to: Search
TUESDAY, FEBRUARY 9, 2010
 |  Follow Newser on Twitter   Friend Newser on Facebook   Subscribe to Newser's RSS feeds   Subscribe to Newser emails Newsletters


10

Dumbest Gaffes on the Economy

Instead of predicting financial crisis, they hid it

Share

(Newser) – The men who should have been warning us about the impending financial crisis were a wee bit off the mark at times. MSNBC rounds up some of the dumbest things said:

  • "Subprime market problems seem likely to be contained."—Ben Bernanke, March 28, 2007
  • "The fundamentals of our economy are strong."—John McCain, Sept. 15

  • "We don't see any pressure on our liquidity, let alone a liquidity crisis."—Former Bear Stearns CEO Alan Schwartz, March 12
  • "We have more capital than we need. We can confirm that we have tackled the problem."—Former Merrill Lynch CEO John Thain, March 16
  • "I don't think the government ought to be involved in bailing out companies."—George W. Bush, July 15

Federal Reserve Chairman Ben Bernanke.
Federal Reserve Chairman Ben Bernanke.   (AP Photo)
President Bush railed against bailout just a few months before he started issuing them.
President Bush railed against bailout just a few months before he started issuing them.   (AP Photo/Evan Vucci)
« Prev« Prev | Next »Next » Slideshow
McCain repeats his line about the fundamentally strong economy on national TV.   (YouTube)
The gaffes provided fodder for "Saturday Night Live" skits.   (hulu.com)

View larger videos >>
« Prev« Prev | Next »Next »
OFF THE GRID
2.9.10
It’s the Sex, Stupid   
2.8.10
For Me, Palin Scores
10 comments
VIEWING:
 
Newser001
Dec 31, 08 6:35 PM CST
It all plays out like a very bad movie, yet each and everyone of them couldn't have been more wrong. Thanks FDIC, SEC, GW Bush, and all the other bozos on the bus! Thanks for playing craps with our lives! Reply
Vote up! Vote down!
0
IN RESPONSE:
Newser001
Dec 31, 08 6:43 PM CST
Oh, by the way... Carona_king (aka, Severely Mentally Challenged, with an I.Q somewhere south of 70) will be chiming in at any moment, about the gigantic monument he wants built for our bozo in command... the floor is yours oh, moronic wonder!
Vote up! Vote down!
0
drlarrymitchell
Dec 31, 08 8:20 PM CST
Were they wrong, or were they lying? In either instance, it doesn't speak well of any of them. Reply
Vote up! Vote down!
0
Mr.C
Dec 31, 08 9:22 PM CST
I think July 15th Bush was right. trillions down the hole - we could have fed, clothed, and educated quite a few poor people with that money Reply
Vote up! Vote down!
0
infidel
Dec 31, 08 11:30 PM CST
This comment has been removed by Newser’s community. Reply
Vote up! Vote down!
0

View all 10 comments »

LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

125 Stories

BOOK EXCERPT

 Paulson: 
 In '08 Crisis, 
 John McCain 
 Had No Plan 



Ex-Treasury sec says Mac risked putting US economy in freefall for 'political gambit'

Feb 6, 10 12:40 PM CST

Paulson: In '08 Crisis, John McCain Had No Plan

Ex-Treasury sec says Mac risked putting US economy in freefall for 'political gambit'

(Newser) - With the US economy in utter freefall, John McCain suspended his presidential campaign, jetted to Washington, called a meeting to fix the crisis—then did nothing, according the Henry Paulson's new book, On the Brink . In an excerpt in the Wall Street Journal, the former Treasury secretary recounts... More »

'Formidable Headwinds' Hinder Recovery: Bernanke

Weak credit and labor markets mean recovery will be slow: Fed chair

Dec 7, 09 4:30 PM CST

'Formidable Headwinds' Hinder Recovery: Bernanke

Weak credit and labor markets mean recovery will be slow: Fed chair

(Newser) - Ben Bernanke painted a stark picture of the economy today, warning that "formidable headwinds" are working against the incipient recovery. Despite an unexpectedly positive jobs report, the pace of expansion is likely to remain "moderate," the Fed chair said. “Despite the general improvement in financial conditions,... More »

 Advertisers: Take a 
 Cue From Ketel One 

TV spots hint at hard times, and does it well

Nov 30, 09 7:50 PM CST

Advertisers: Take a Cue From Ketel One

TV spots hint at hard times, and does it well

(Newser) - Advertisers trying to market to recession-bruised consumers could take a cue from Ketel One vodka, suggests Seth Stevenson in Slate . Rather than playing Debbie Downer and addressing the recession with coupons—or ignoring it entirely à la Grey Goose’s glamorous yachting women—Stevenson says Ketel One has made “... More »

125 Stories


'09 resolutions for credit market
Wall Street Journal

Credit must be unlocked next year
New York Times

 
John McCain • Ben Bernanke • recession • US economy • credit crisis • John Thain • George W. Bush • Alan Schwartz • financial crisis • recession depression

from our news partners

Please wait, content is loading
Please wait, content is loading

Just For Laughs

Loading...