- Joined
- May 17, 2005
- Messages
- 12,256
- Reaction score
- 2,693
In fact, many people did foresee it and were not surprised by it. I wasn't for one - but I read different news and I think about things differently. Perhaps it's because I just a complete dink but I don't just "trust" experts. I need to hear a good argument - I'm really annoying that way to the point of insubordination. I've also missed out on some great investments because they were obviously stupid, but had I got in on them I would have found out that there were enough morons in the world to make them work for a while. For all the smarts I like to think I have the one thing that I have never been able to overcome is my belief that other people aren't idiots - and that makes me an idiot too, I guess.
Among all the things that popped up leading up to the bust in 2008 that made it obvious that a bubble was being blown, one thing I never heard of was the appraiser's petition. As Bill Black says:
"Everyone should read and understand the implications of these two sentences from the 2011 report of the Financial Crisis Inquiry Commission (FCIC)."
It wasn't just a bubble, it was active fraud, and the writing was on the wall in 2000.
Among all the things that popped up leading up to the bust in 2008 that made it obvious that a bubble was being blown, one thing I never heard of was the appraiser's petition. As Bill Black says:
"Everyone should read and understand the implications of these two sentences from the 2011 report of the Financial Crisis Inquiry Commission (FCIC)."
It wasn't just a bubble, it was active fraud, and the writing was on the wall in 2000.
