[quote=CA renter] Everybody in power knew, and they knew exactly how this game was going to end (govt bailouts which would result in even more wealth for themselves, while the taxpayers and J6 would be screwed for life).[/quote]
Well, it’s apparent that Wall Street-Treasury-Fed block did. I mean they were working on confirming an expert of the depression in late 05 for god’s sake. Also, some emails came out from 2006 that showed MBS traders were quite aware it was going to blow up. I’m sure many people knew it was a problem but very few knew the extent because they all lie to each other and only a select few have access to all the information i.e Fed-Treasury. I think Greenspan, probably, was a useful idiot that they could dump the who thing on when it all blew up.
For politicians, on the other hand, I think a more accurate description, would be they just did not give a shit and really have very little respect for the people they supposedly lead. That, at least, should be obvious. And few who raised a hand in protest, from time to time, probably did so for political reasons. Kind of like the democrats regarding the war. Most knew we were going to be there indefinitely but that did not stop them from picking up some constituent brownie points along the way.
I think, most politicians are so caught up in their own theater of telling people what they think they want to hear(script is contingent on party) coupled with non-stop scheming and *posturing* that they become disconnected from reality. A virtual Kabuki-theater of greedy, pathological liars that can’t distinguish truth from lies and have mastered the art of “plausible deniability”. It’s not an environment conducive to good governance. If politicians don’t learn to play the game fast, they get chewed up and spit out quickly. The few that don’t lose themselves are marginalized.
Wall street, OTOH, in general, is a coal-fired furnace of myopic greed with not an iota of care in the world to what happens out side their virtual Versailles. Crisis and conspiring, really, is a feature rather than an anomaly. They just happen to be getting bigger as time goes on.
