2005: "there is little reason to fear a catastrophic collapse in home prices"

[CoffeeCat]

16. Conservatives and most Republicans...

...belittled and scoffed at anyone who DARED to suggest that the prosperous Bush years were a farce.

Does anyone remember the 2006 debate between Art Laffer (Reagan's supply-side economic advisor) and Peter
Schiff. Schiff is a Republican and he tried to tell Laffer than the whole thing was going to come crashing
down! Laffer treated Schiff like he was crazy and couldn't stop laughing at him. Laffer even bet Schiff
a penny that the housing market and the economy wouldn't crash.

If anything--this pre-crash Republican consternation demonstrates that they allowed the banks to fill
their bubble--because it benefitted them in many ways. It made Bush look good--because it falsely
propped up the economy and created false prosperity. It also helped Bush's and the Republican's
major bank/Wall Street donors--because they were making trillions off of those mortgages. We all
now know that they were packaging those mortgages into derivatives and selling this on the secondary
market.

Loads of politicians, bankers, corporate mucky mucks and other assorted criminals--made SO MUCH money
off of this chicanery.

Anyone who dared to spill the truth---was mocked.

Can you say sociopaths?