Herman Cain, Liar!

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Herman Cain, Liar!

Post by Admin on Wed Oct 12, 2011 4:54 pm

"But now that we have found and we have gotten an audit, we have found out an awful lot on how special businesses get bailed out -- Wall Street, the banks, and special companies, foreign governments. And you said that you advise those of us who were concerned, and you belittled -- you say call up the Federal Reserve and just ask them. ... Do you still stick by this, that that this is frivolous, or do you think it's very important? Sixty-four percent of the American people want a full audit of the Fed on a regular basis."

Ron Paul to Herman Cain at last nights GOP Debates

"You have misquoted me. I did not call you or any of your people ignorant. I don't know where that came from. You've gotta be careful of the stuff you get off the Internet."

Herman Cain to Ron Paul at last nights debate.

"Some people say that we ought to audit the Fed. Here's what I do know. The Federal Reserve already has so many internal audits it's ridiculous. I don't know why people think we're gonna learn this great amount of information by auditing the Federal Reserve. I think a lot of people are calling for this audit of the Federal Reserve because they don't know enough about it. There's no hidden secrets going on in the Federal Reserve to my knowledge,"

Herman Cain


“The Federal Reserve already has so many internal audits it’s ridiculous. I don’t know why people think we’re going to learn this great amount of information by auditing the Federal Reserve. Now I no longer serve on the board of the Federal Reserve [...] but people who say “we gotta audit the Fed because we don’t know enough about it,” well, here’s the advice I’ve given to people: Call them up! And ask them! If you can stop by and have one of their PR people or one of their public relations people explain to you how the Federal Reserve operates. I think a lot of people are calling for this audit of the Federal Reserve because they don’t know enough about it.”
You Tube Video of Cain saying it




Herman Cain/Hear it here!



http://rt.com/usa/news/paul-cain-fed-reserve-705/
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Re: Herman Cain, Liar!

Post by Admin on Wed Oct 12, 2011 5:12 pm

TODD: All right, you predicted that if — now that you’re in the top tier, you were going to get more questions. I promise you this is not a “pop quiz” about foreign leaders. I actually want to go into some things that you’ve written. This is something you wrote in 2005, saying, arguing that there was no housing bubble. You wrote this in 2005, in Business and Media Institute, you said, “Coverage of the Bush economy reads like a collection of Democratic Party press releases, calling a strong economy everything from struggling to volatile or dicey. That kind of ignorance makes homeowners fear that their most expensive possession could turn worthless overnight. That won’t happen.” August 2005.

The housing situation — that did happen, and it only happened within three years. What did you miss in 2005 about the housing bubble?

CAIN: What I missed in 2005 was just how bad Fannie Mae and Freddie Mac had distorted the housing market. That’s why I said what I said in ’5. I further learned later, in terms of Fannie Mae and Freddie Mac — I honestly did not realize just how bad it was, just how bad it was, just how bad the whole bundling and derivatives thing was, and that we were on the brink of a total financial meltdown. So I learned later on by looking into it deeper that the situation was a lot worse than I thought in 2005.

TODD: Well, in 2008, this is September 1st, 2008, another column you wrote about the economy, and it reads as follows. You wrote, “The supposed failure of Bush’s economic policies has been a constant theme of the Democrats since the 2006 elections. When the Democrats regained control of the House and Senate by convincing enough of the voters that the economic sky was falling, and that the war in Iraq could not be won. Based on all of their convention speeches, they plan to continue those themes right through Election Day on November 4.”

Economic sky was [not] falling, you said September 2008. Fifteen days later, of course, the Lehman Brothers collapse — we know what happened after that: a total near sky-is-falling moment. So how — I guess I would say this. How do you reassure voters that, despite all the experience you’re running on in the business community, your time on the Fed, you missed the housing bubble and you missed the economic collapse.

CAIN: Well, it’s real simple, Chuck. I have economic advisers working with me now who spend time studying these various analyses. When I wrote those papers, I was only responding to reports that I, like everybody else, was getting through the media, those kind of public reports. I wouldn’t –

TODD: Which turned out to be right, by the way. You were criticizing those reports, but they turned out to be right.

CAIN: Well, yeah. But what I am saying is I’m going to have, I will have people around me who are going to help me do deeper analyses on some of these things, okay? So yeah, I missed some of these things. I’m not perfect. I’m very quick to say I’ve made a mistake or I missed it, but I didn’t have sophisticated analyses helping me to draw the conclusions I was drawing at that time. And remember, I have admitted that the housing bubble and the economic meltdown of 2008 — it was much worse than I ever realized until the Lehman Brothers situation started, and until more and more was revealed about the depth of the problems at Fannie Mae and Freddie Mac. I admit I didn’t know all of the details of those situations.
Source/More Here.
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