Dumbest Gaffes on the Economy

Instead of predicting financial crisis, they hid it
By Ambreen Ali,  Newser User
Posted Dec 31, 2008 6:12 PM CST

(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
(Read more financial crisis stories.)