"This president [Barack Obama] is undermining the constitutional basis of this government. This president is undermining our military. He is undermining our standing in the world....The damage he has done to America is extraordinary."

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People were paid lots of money to make stupid decisions, people in big banks, and when people are paid to be stupid they'll be stupid. The question was, did they know they were being stupid or were they just stupid? I think you need to take it on a case by case basis. There was some sinister activity, but I think by and by it was people being incentivised to do the wrong thing.

— Michael Lewis