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We were blindsided. We never saw it coming.
So said Goldman Sachs CEO Lloyd Blankfein of the financial crisis of 2008. He likened its probability to four hurricanes hitting the East Coast in a single season.
Blankfein was reminded by the chairman of the Financial Crisis Inquiry Committee, Phil Angelides, that hurricanes are "acts of God." Financial crises are manmade. Yet Blankfein was backed up by Jamie Dimon of JPMorgan, who said, "Somehow, we just missed ... that home prices don't go up forever."
The Wall Street titans...
Is a U.S. Default Inevitable?
Geniuses who believe spreading the wealth is the answer obviously can't see that it is those that are rich who provide jobs for the lower and middle classes. Then again, endless brainwashing tends to overwhelm that little fact to the point where it is ignored. All the same it is fun to see people continue to argue that the U.S. Constitution provides the powers that be the ability to spread the wealth. The inalienable rights, according to Locke, are life, liberty and the pursuit of happiness. It is these rights that the U.S. Constitution is based upon. In addition, your rights stop where mine begin, and vice...