prices declined 53 months. it happened in the period between 1928 and 1933. that s not a decade you want to replicate. my question would be when people do a bad job should we not let them go and hire new people? the head of the federal reserve did not see the housing bubble coming. geithner didn t see it coming. both part of the federal reserve that made the mistakes that led to the housing budget. maybe we need new leadership in washington. sean: senator, i think we do. we are starting with the winners, including yourself in this last election. good to see you. good to see you. sean: which governor is banning state employees from appearing on talk radio shows? liberals cry conservatives for political rhetoric which they say contributed to the attack in arizona. turns out the left has spewed some of the ugliest speech of all.
we have home we have home prices declined 53 months. it happened in the period between 1928 and 1933. that s not a decade you want to replicate. my question would be when people do a bad job should we not let them go and hire new people? the head of the federal reserve did not see the housing bubble coming. geithner didn t see it coming. both part of the federal reserve that made the mistakes that led to the housing budget. maybe we need new leadership in washington. sean: senator, i think we do. we are starting with the winners, including yourself in this last election. good to see you. good to see you. sean: which governor is banning state employees from appearing on talk radio shows? liberals cry conservatives for political rhetoric which they say contributed to the attack in arizona. turns out the left has spewed some of the ugliest speech of all.
back to president obama s speech tonight. the by the we just place the bite we just played, unfortunately, over the last decade, i get that includes the time you were working for president bush in the white house, we have not done what is necessary to shore up the foundation of our own prosperity. what is your thought about that? i think he s right. that we failed to shore up our prosperity and we failed to do so in 2005 when democrats, including barack obama filibustered a bill to rein in fannie mae and freddie mac before they blew up the housing budget. he makes himself look small and weak when he criticizes his predecessor when he has culpability, responsibility for having supported fanny and freddie when they were at their worst behavior helped blocked reform. there s a bigger story, the
speech tonight. the by the we just place the bite we just played, unfortunately, over the last decade, i get that includes the time you were working for president bush in the white house, we have not done what is necessary to shore up the foundation of our own prosperity. what is your thought about that? i think he s right. that we failed to shore up our prosperity and we failed to do so in 2005 when democrats, including barack obama filibustered a bill to rein in fannie mae and freddie mac before they blew up the housing budget. he makes himself look small and weak when he criticizes his predecessor when he has culpability, responsibility for having supported fanny and freddie when they were at their worst behavior helped blocked reform. there s a bigger story, the
turndown. what did you see that others did not see? i think starting financial crisis in emerging markets for a decade i wrote a book about it. in the united states there was credit bubble, housing budget, easy money, easy credit, poor supervision. sean: why didn t others see it? there is a bubble everyone feels euphoria. the housing in the united states were using homes as atm machines, politicians were happy being reelected. wallfc billions in profits with when there s a bubble people live in a bubble and they think it is going to continue. sean: we have trillion dollar deficits as far as the eye can see. what does it mean for this country? you see the current economic crisis. what do you see in your crystal ball now? the crisis started with too much debt and leverage of the private sector. now we ve decided to socialize many of the private losses put them on the balance sheets of the government in the japan in