Daddy Warbucks Dick on predatory lending: ‘the markets are working.’

Thinkprogress:

In a new interview with Fortune magazine, Vice President Cheney says that the government shouldn’t intervene to curb predatory lending practices because it would interfere with the “working of the markets“:

“The fact is, the markets work, and they are working,” said Cheney in an interview in his White House office. “And people - some of the big companies obviously - have taken risks. Risk means risk. And there’s an upside as well as a downside in some of the choices they’ve made. We have to be careful not to have this set of developments lead us to significantly expand the role of government in ways that may do damage long-term for the economy.”

The same goes for Democratic efforts to curb the predatory lending practices that left naive homeowners in trouble, says Cheney: “We don’t want to interfere with the basic, fundamental working of the markets.”
A few nights before the interview, “Cheney had dinner with [Alan] Greenspan at the home of friend, mentor, and deposed Defense Secretary Rumsfeld.”