Cheney: Financial Crisis ‘Developed’ Only ‘Over The Last Six Months’
Cheney: Financial Crisis ‘Developed’ Only ‘Over The Last Six Months’
On CBS’ Face The Nation this morning, host Bob Schieffer asked Vice President Cheney whether Americans were “better off now than we were eight years ago.” “I think we’ve done some very good things in the course of the last eight years,” replied Cheney.
After listing off policies that he claimed were accomplishments, such as No Child Left Behind, Cheney acknowledged that the Bush administration was leaving the incoming Obama administration “with their hands full.” But Cheney was unwilling to admit any real culpability for the challenges Obama will face, saying only that they are a “new set of problems.” Cheney even claimed that the turmoil in the financial sector “developed” only “over the last six months”:
CHENEY: That there’s no question about what the new administration, President Obama, are going to have their hands full with the new set of problems, if you will. Centered especially on the economy, upon the difficulties that have developed in the financial markets over the last six months.
Watch it:
By saying that the financial crisis “developed” in just the past six months, Cheney is following in the footsteps of right-wingers like Rush Limbaugh, who claim that the problems only began recently. But the truth is that the financial sector’s problems developed over many years and were pushed forward by the economic policies of the Bush administration. The New York Times wrote recently:
From his earliest days in office, Mr. Bush paired his belief that Americans do best when they own their own home with his conviction that markets do best when let alone. […]
As early as 2006, top advisers to Mr. Bush dismissed warnings from people inside and outside the White House that housing prices were inflated and that a foreclosure crisis was looming. And when the economy deteriorated, Mr. Bush and his team misdiagnosed the reasons and scope of the downturn; as recently as February, for example, Mr. Bush was still calling it a “rough patch.”
As CAP’s Tim Westrich has noted, the “root cause of the financial mess is the hands-off approach towards mortgage and finance markets by the Bush administration, and its lack of action when a disaster was imminent.” But instead of taking responsibility for the challenges that President-elect Obama will inherit, Cheney simply shrugged his shoulders and claimed that “each administration has its challenges.”
Transcript:
SCHIFFER: I guess I’d ask you the question that Ronald Reagan used to ask. Are we better off now than we were 8 years ago?CHENEY: Well, I think we’ve got, I think we’ve done some very good things in the course of the last eight years. Defending the country against further terrorist attacks like 9/11 I think’s a major accomplishment, for example. I think we made progress on education with No Child Left Behind and prescription drug benefits for seniors and so forth. I can point to tax policies, a series of policies and actions that were put in place that were significant progress. That there’s no question about what the new administration, President Obama, are going to have their hands full with the new set of problems, if you will. Centered especially on the economy, upon the difficulties that have developed in the financial markets over the last six months. Just as our task when we came in was ultimately to deal with the aftermath of 9/11. And we had to take on the global war on terror. So, each administration has its challenges. The Obama administration certainly has theirs.
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January 4th, 2009 at 1:09 pm
By saying that the financial crisis “developed” in just the past six months, Cheney is following in the footsteps of right-wingers like Rush Limbaugh
– - Well yeah, why consult Nobel Prize-winning economists like Paul Krugman when you can rely on the economic expertise of a radio entertainer?
January 4th, 2009 at 1:13 pmPS. as per Dick’s comments, this pig told the American people that the insurgency in Iraq was on its last trowes… and stok piles of WMD were to be found there too.
January 4th, 2009 at 1:14 pmCheney’s lips on his face & butt are moving, therefore, he is lying through both.
January 4th, 2009 at 1:16 pmUmmmm, Dick? The mortgage crisis started in 2005. Where were you neocons back then when you controlled the White House, the US House, and US Senate? Huh?
January 4th, 2009 at 1:17 pmWhen is that steel heart of his going to send rust particles to his vital organs and precede a painful death?
January 4th, 2009 at 1:18 pmDick Chenney, the US facist pig and AWR CRIMINAL speaking and Dog shiting in Washington DC means the same thing…
January 4th, 2009 at 1:20 pmThis complete interview amounted to nothing but Cheney regurgitating his rewrite of actually took place when — how this whole administration has been spending their time their last several months in office — rewriting history! Criminal DeLay spent his whole afternoon yesterday on CSPAN doing the very same thing, and these networks continue allow them to do it! When are most of the people in this administration going to end up exactly where they really deserve to be — not on TeeVee dispensing their koolaid, but in prison for a long, long time.
January 4th, 2009 at 1:20 pmHistory and facts are meaningless to him – the only reality are the lies spewed forth from his vile mouth.
January 4th, 2009 at 1:20 pmThe animal dick chenney has no credibility at home or abroad what so ever! none! Zilt!
January 4th, 2009 at 1:21 pm“over the last six months” …
whoa, i missed that… couldn’t quit fascinatin’ over the schweaty trails he was leaving on that table…
but, it fits with the stategy lately… and “who could’ve known?”
January 4th, 2009 at 1:24 pmOT: Bill Richardson withdraws his name as Sec of Commerce.
January 4th, 2009 at 1:24 pm“Who could have known? Cheney quipped. “After all I’m not even in the Executive Branch of the government. And I also have strong reason to believe this is all Clinton’s fault.”
Cheney and the Neo-Cons tried and true excuse is the ‘Bart Simpson Defense’, “I didn’t do it!”
January 4th, 2009 at 1:26 pmOr known round the world as the “Dog ate my homework” excuse.
The economy has been in recession for 13 months, making it already one of the longest since WW II. How convienent of Cheney not to see this. His legacy is one of failure so of course he would not acknowledge those failures. Worst Vice President ever.
January 4th, 2009 at 1:26 pmZooey Says:
OT: Bill Richardson withdraws his name as Sec of Commerce.
Uh oh.
January 4th, 2009 at 1:28 pmbut, ya know, he could be quite accurate also…
i have this theory that when bushco knew, for sure, that they would not win this election – having allowed mcSAME an attempt, just for show at least – they had to hustle and finish the thievery they’d started and hoped to continue on the off chance they would hold on to the power…
now it’s, grab all you can and run… and let the shite fly for the next guy to clean up…
January 4th, 2009 at 1:28 pmWhat is the story with the investigation Richardson cited?
January 4th, 2009 at 1:29 pmCentered especially on the economy, upon the difficulties that have developed in the financial markets over the last six months.
What did Schiffer say in response to this?
Did anyone watch the show?
January 4th, 2009 at 1:32 pmQuite the convenient timing for an investigation in NM. GOOP f uckers.
January 4th, 2009 at 1:34 pmOff topic:
As stated in comment #1 on this thread, here is the graphic video of Palestinians being blown apart in Israel’s “quest to find rockets”:
http://rawstory.com/news/2008/Leaked_graphic_video_shows_carnage_in_0104.html
IT’S A VERY GRAPHIC VIDEO. BE PREPARED.
January 4th, 2009 at 1:34 pmi did, zooey, but if forget schieffer’s exact response…
i do remember thinking that bob sounded a bit perturbed, like he knew it was b.s. but had a lot of questions to cover…
just my take.
January 4th, 2009 at 1:36 pmCentered especially on the economy, upon the difficulties that have developed in the financial markets over the last six months.
Right, right, that Chuck Schumer started and the democrats used to win the election.
Covering the timeline of events well, my friend.
January 4th, 2009 at 1:37 pmThanks, katy. I guess it’s just too hard to take that detour into actually doing his job, when he has a lot of other questions. Right? Sheesh…
January 4th, 2009 at 1:38 pmBut remember, Kay, there is NO humanitarian crisis in Gaza. Food, shelter, clean water, medical supplies, qualified doctors — all that trickles down from the bombs.
January 4th, 2009 at 1:41 pmFrom the update link:
“I would absolutely do it again,” Cheney said on CBS’s “Face the Nation” following questions about warrantless wiretapping, the Guantanamo Bay prison and harsh interrogation techniques. “I think the loss of life, if there had been further mass casualty attacks against the United States over the last seven-and-a-half years, fully justifies it.”
What a delusional liar! The warrantless witetapping program was (and still is) a clear violation of the Fourth Amendment. Holding prisoners in GTMO indefinitely violates the Sixth Amendment. And harsh interrogation techniques (such as waterboarding, which Cheney personally authorized) violate international law. One cannot possibly justify doing all that on the premise that maybe, only maybe, not definitely, it saved lives.
They are, as they often do, trying to employ a logical fallacy. Just because Event B follows Event A, it does not automatically mean that Event A caused Event B. Likewise, just because Event B fails to follow Event A, it does not automatically mean that Event A prevented Event B.
Bush and Cheney violated international law and our constitution. Just because we haven’t been hit with another 9/11-style attack (though we did get a bunch of letters with anthrax in them sent our through the postal system under their control) does not justify doing all the illegal things they did.
January 4th, 2009 at 1:42 pmFrank Rich begs to differ….
Bush kept America safe (provided his presidency began Sept. 12, 2001). He gave America record economic growth (provided his presidency ended December 2007). He vanquished all the leading Qaeda terrorists (if you don’t count the leaders bin Laden and al-Zawahri). He gave Afghanistan a thriving “market economy” (if you count its skyrocketing opium trade) and a “democratically elected president” (presiding over one of the world’s most corrupt governments). He supported elections in Pakistan (after propping up Pervez Musharraf past the point of no return). He “led the world in providing food aid and natural disaster relief” (if you leave out Brownie and Katrina).
http://www.nytimes.com/2009/01/04/opinion/04rich.html?hp
January 4th, 2009 at 1:52 pmWhy should Dick Cheney give a damn about the economy. He is going to reap the profits of the war and will retire as a treasonous war profiteer, making tens of millions of dollars off the death of our troops and innocent Iraqi’s.
All he cared about in 8 years was making his ex company, Haliburton, massive profits and being the Neocon Chickenhawk that he is, ordering others to their deaths for nothing, while he avoided service 5 times when it counted. He’s a scumbag, who should be executed as a traitor to this country.
January 4th, 2009 at 1:54 pmDoes this man ever tell the truth?
January 4th, 2009 at 1:55 pmzxbe Says:
Does this man ever tell the truth?
January 4th, 2009 at 1:55 pm
You have to ask…? ;)
January 4th, 2009 at 2:07 pmHe did every criminal thing he wanted to do and made an obscene amount of money doing it. Why would he tell the truth? He’s in a sociopath’s paradise where lies are essential.
January 4th, 2009 at 2:22 pmWhen Chimpy took office he was given a file of items that demanded immediate attention. Obama will be given an address to a freakin warehouse.
January 4th, 2009 at 2:40 pmAdd Cheney to the list of Bushies who ask why one time to find root cause. He joins:
Condi Rice
Hank Paulson
Chris Cox (I’m not sure he ever asked why?)
Frances Townsend (that ro-less bust of the WH Katrina Lessons Learned report)
Gordon JohnDroe
Al Hubbard
George W. (cursing while chewing a hot buttered roll)
Dr. Deming said it took six or seven why’s to find root causes. Destined to make the same mistakes repeatedly, America.
January 4th, 2009 at 2:51 pmwell, zooey, at least he got the lies on record, again…
January 4th, 2009 at 2:55 pmThe FIRST plane to the Hague for their trials is especially for him..with shackles on the floor.
January 4th, 2009 at 2:59 pmI know the terrorist are reading these comments by Cheney and who knows he might get to find out exactly what’s it like being kidnapped, tortured, raped and waterboarded. As for the Economy well in 2000 Bush/Cheney came in with a surplus left by Bill Clinton. In less then 5 weeks it was gone. For 8 years the US has borrowed from Russia, China and others. We have given money to bribes, assassination attempts of World Leaders, we paid for thousand of innocent people we killed, give Iraq 2 billion every month, pay the puppet Iraq Leaders and other to keep their mouths shut, we pay Tribal leaders, Contractors for doing nothing, African rebals to over take Govenments, Taliban to keep things going, Law Makers to follow orders, Big Businesses, Friends of Friends, Generals to turn a blind eye and lie to soldiers and of course top level officials in every department of the Govenment. Yes we have given weapons and money for over 8 years and when the final audit is seen by the US taxpayer it will be in the area of 12 Trillion dollars. Right now Bush and the Auto Industry are asking the Saudi’s for a loan which is laughable as Israel is using US cluster bombs to kill the Palestine people. The Saudi King will tell Bush what he did when he asked for cheap oil NO. Yes Bush/ Cheney called the Saudi’s their friends but no more of that just like Bush called the Taliban his friends.
January 4th, 2009 at 3:02 pmCrackpot realism, of course, is blameless.
If people would have just done more of the same, what the crackpots suggested, everything would have turned out fine.
January 4th, 2009 at 3:15 pmhttp://online.wsj.com/article/SB122169431617549947.html
According to WSJ the financial crisis began 16 months ago [Article was dated Sep 2008]
January 4th, 2009 at 3:17 pm“Cheney: Financial Crisis ‘Developed’ Only ‘Over The Last Six Months’”
Dick is still a dick. Enough said.
January 4th, 2009 at 3:25 pmCHENEY: That there’s no question about what the new administration, President Obama, are going to have their hands full with the new set of problems, if you will.
Yes, you and Bush are finally working your hardest. Too bad that work is to put as many roadblocks, pitfalls, destruction and cesspools in Obama’s path to try to sink his administration.
Anyone starting a fund to send Bush and Cheney to The Hague? Maybe we could get a deal with Jeppesen to book the flight.
(Here is the link on Jeppesen in case it needs explaining. Also notice where the news was broken, in the Metro – a local Bay Area paper. MSM flunks again!)
http://www.metroactive.com/metro/06.13.07/jeppesen-0724.html
January 4th, 2009 at 4:08 pmCheney telling the truth? Give me a break!
January 4th, 2009 at 4:22 pmtsk, why *wouldnt* he do it again…ho’s gonna stop him, harry reid?!?!?
January 4th, 2009 at 4:36 pmThis criminal belongs in jail!
January 4th, 2009 at 4:39 pmIf the financial crisis began only six months ago, how was I able to upload a video of Bush’s disastrous economy to YouTube 14 months ago???
I must be a witch!
January 4th, 2009 at 4:53 pmLIAR, LIAR!! Many economists were screaming about what was coming two years ago.
Why oh why is anyone with a modicum of sense want to interview much less quote someone like Cheney? Just what has he done to warrant such attention? Oh, I forgot. He’s part of a criminal conspiracy. The shallow press always admires the criminals in our society. Well they certainly have a wide choice in government don’t they? I guess they are so used to being lied to, they want more. They have been sucked in so often, Cheney is like a large Hoover.
January 4th, 2009 at 5:00 pmWhen will we see the end of interviews of these vermin?
January 4th, 2009 at 5:51 pmLet them slither away (hopefully to the Hague courts) and let us use the disinfectant to wash away the slime they leave behind.
Dumb question – Has Cheney even looked at a graph of the Dow, Nasdaq, S&P etc for the last 20 years (or even 8 years).
Pre-Bush – the market was going like gangbusters – even to the point that there was concern that it may over-heat.
January 2001 – Market started going down. Its amazing how 9/11 caused this 9 months before it happened.
January 4th, 2009 at 6:06 pmFor the moment, let me ignore the housing bubble, shaky house loans, and lack of oversight (You’ve already made that point, and I agree fully).
But even without the housing crisis, we’ve had almost 8 years of pouring massive amounts of money into the wars in the Middle East. We’ve financed these by money which was “off the books” which is a danger sign in and of itself. Even without the war, we’ve sent a pipeline of money to the top in a “true believer” fashion of “trickle down” economics (always reminds me of people above urinating on those below).
We’ve taken a significant number of our skilled workforce and sent them to the war overseas – leaving companies at home having to try to find temporary replacements and making do. At the same time, the salaries of these workers have decreased to their military pay level. Their families at home have to deal with a horrendous paycut.
And we wonder why the economy hasn’t been going so good ?
January 4th, 2009 at 6:13 pmWhen people from this administration or Frank Rich say “record economic growth”, what in the hell are they talking about? Seriously, exactly what in the hell are they talking about?
January 4th, 2009 at 7:19 pmThe zero jobs created the first four years (worst since the Great Depression)?
The five million created the next three years (about equal population growth)?
The minus two million jobs the past year?
Average wages declining when adjusted for inflation?
The doubling of the entire national debt from $5.7 trillion to over $11 trillion?
Ten percent of mortgages in trouble?
Unemployment going from 3.9% to 6.5% (really more)?
Nearly every state in financial trouble?
Gasoline at $4.50 per gallon?
Financial institutions going bankrupt?
Auto industry going bankrupt?
Two trillion dollar bailouts needed?
Dow going from 10,700 to 9,000?
Exactly what in the hell are they talking about?
I would really like to know!
Isn’t he off message? I thought they were trying to tell us that the crisis was the result of programs put in place by President Clinton over eight years ago.
I personally think this crisis is the final nail in the coffin of Reagan’s legacy. The deregulation and privatization programs he put into place during his Presidency, furthered by George H W Bush, and perfected by George W Bush have destroyed both the government and economy of this great nation.
January 4th, 2009 at 7:39 pmIsn’t it amazing how the “robust economic growth” fostered by Bush Administration policies of six years turned out to be so very fragile that it could all be undone by a Democratic Congress that Republicans were crying was an ineffectual “Do-Nothing” Congress?
January 4th, 2009 at 9:07 pmHe said he is going to stay in Washington. What for? To lurk around in secret undisclosed locations, plotting his next coup?
January 4th, 2009 at 10:10 pmHe also said Obama hasn’t asked for his advice.
Gee, I wonder why.
Here’s something odd. Airlines can’t get reasonably priced insurance or reinsurance, thus BushCo will provide via the Transportation Department.
Is someone aware of heightened airline risk or has America’s insurance system decided not to write coverage?
If taxpayers are assuming airline risk, why didn’t Bush require air carriers to drop baggage and fuel surcharges?
January 4th, 2009 at 11:55 pmSo Cheney is saying that Obama and Krugman can predict the future. Cool.
January 5th, 2009 at 11:35 amWhy does the media continue to seek the opinions of this thug? After 8 years of lies, misdeeds, and distorted information the public knows there will be no gems in the pile of crap.
January 5th, 2009 at 2:14 pmHe’s part of a criminal conspiracy.sohbetContractors for doing nothing, African rebals to over take Govenments, Taliban to keep things going, Law Makers to follow orders, Big Businesses, Friends of Friends, Generals to turn a blind eye and lie to soldiers and
March 1st, 2009 at 11:26 ambedava mp3 indirof course top level officials in every department of the Govenment.
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