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Thats what I thought... failing to predict the housing crash?

First of all, lets keep in mind what the article was about... MSM slanting of the news. Was the MSM blaming Bush? or were they pointing to the real culprit which was Fanny May/ Freddie Mac???

Second, you seem to be faulting Cain for not being able to predict the future.

NOW... if you have some evidence that Cain sheltered or defended Fannie May/Freddie Mac (such as him supporting the community re-investment act) THEN you will have something.
If you can point me to where Herman Cain suggested that federal involvement in private industry was ok, THEN I will be convinced. I certainly don’t read Cain as a big government kind of guy, and you and me both know that it is Big Government which brought on this housing bubble and crash... 3 YEARS AFTER your “devastating” article by Herman Cain.

>>> Also he was a big bailout supporter

SHOW ME.... I want to see it. If it’s true, I won’t defend Cain... i’ll be in your corner.

If he was at all competent in his position with the Federal Reserve, he had every reason to know by August 2005 to know that we were not just in a bubble, but the Mother of All Housing Bubbles. Go pull up a chart and look where we were at in August 2005! We were so far off historical price/income norms (over 10x with the long-term historical 3x) that nobody competent in the field could have missed it.

True to form he later supported the bailouts when it mattered. It's easy to backtrack afterwards - what a leader needs to do is lead in the right direction during a moment of crisis, rather than panic.

So one of two things must be true. Either he was incompetent as Chairman of the Board of Directors of the Federal Reserve Bank of Kansas City (hint: you do not dabble and get this position), and is an affirmative-action candidate; or he knew at the time what it was his business to know, and told the public the exact opposite, helping the very people who did the wrong thing to cash in in a very big way on my back and yours. The moronic, arbitrary economics of his "9-9-9" plan, seemingly tailored for their marketing purposes exclusively, could be construed to support either view.

Cain may paint a pretty picture now, but when it counted he wasn't on your side or mine.