Were you pulling funny business while you were doing business, with everyone's money on the line?
Some of the activities we undertook .. contributed to the prevailing mood at the time.
So did you know right then it would all come crashing in,
that something funky was cookin?
We didn't know it then, or even today, when it actually crossed over into bubble territory.
So you didn't see it coming, you didn't see it coming, well didya see it coming, did anybody see it coming?
No one involved in the housing system foresaw a dramatic and rapid depreciation of home prices. No one?
Lenders,
Nobody?
rating agencies,
Anybody?
investors,
Somebody?
insurers,
consumers,
regulators and policymakers. So you never saw it coming at all?
And then when you look back, you always look back, and you look back, and you say well, these were warning signs.
And then when you look back, you always look back, and you look back, (hindsight!) and you say well, these were warning signs.
They're not obvious at the time, they're only obvious in hindsight (hindsight!).
They're not obvious at the time, they're only obvious in hindsight.
So no one ever coulda seen it comin at all!
Wellll, *exhale* I'm not sooo sure about that.