Posted on 01/06/2009 11:11:50 PM PST by Jet Jaguar
Barack Obama's White House chief of staff, Rahm Emanuel, told business leaders assembled by the Wall Street Journal in November that the economic crisis facing the country is "an opportunity to do things you could not do before."
That has to be one of the most chilling statements I have ever heard uttered by an American political official in my lifetime.
It ranks right up there with the transparent arrogance of Clinton administration hotshot Paul Begala's July 1998 explanation of the use of executive orders by the president to go over the heads of Congress: "Stroke of the pen. Law of the land. Kinda cool."
But there was even more to this quote from Emanuel. He followed up that scary and yet candid statement with this: "You never want a serious crisis to go to waste."
Every so often, an insider among the power brokers in our establishment elite let's slip an extremely telling remark. I suspect Emanuel meant exactly what he said – though he probably wishes he could take it back.
(Excerpt) Read more at worldnetdaily.com ...
Most likely, yes.
Like Duh..
the grenade pin was indymac.....
And Schumer caused a run on that bank. IIRC.
I think the whole house of cards was/is going to crash anyway. I think the timing of it was accelerated due to statements (Barney Frank) and actions (Bernake/Paulson) to help Obama. However, I don’t think they realized how big and how fast it would crash.
The whole mess started by selling mortgages to folks who were not credit worthy. The mortgage brokers then sold the mortgage to Fannie May & Freddy Mac who were required by law to buy them. Fannie and Freddie then bundled those mortgages and sold them to all yield hungry investors as bonds.
On top of that home owners with good credit kept borrowing using appreciated house as collateral.
There was no central planning. Blame the politicians (all democrats) who backed Fannie & Freddie. Also blame people who borrowed and spent thinking the house prices would go up for ever.
The bubble always collapses in the end.
In my opinion, Obama and the Democrats created this economic crisis just as FDR and the Democrats created the Great Depression in the 1930s. Their reason is the same, to turn America into a Communist Socialist Republic. FDR started the process in 1933 when he created the Great Depression, now Obama will complete it in our time.
the crisis was structural and has been on the books for a long time. I think the actual motivation of the origins lie in greed.
That said, the timing of the unraveling was so opportune that I find it suspicious, particularly since the CDS market provided a vehicle to pressure the stocks of certain financial firms (which could then be FTD/naked shorted), and get the ball rolling with Lehman and AIG. So many parties and particularly countries had an interest in seeing obama win, though top of my list are Russia and China.
The result - the election was thrown to obama, the treasury is being looted to the tune of TRILLIONS this year, and the GOP may not get back into power for a long time.
I had an argument about this with someone on FreeRepublic. I said that the economic crisis was probably directed by Soros and intentionally precipitated by Schumer causing the run on IndyMac and that it got out of hand, causing more of a crisis than the Democrats planned. Anyway, I told the poster that the investors that were bailing out IndyMac were probably going to turn out to be big time Democrat donors, and sure enough it was Soros and David Dell and someone else.
Soros did just that here in Thailand in 1997, well documented including his assalt on the British Pound.
The real sad part is the people elected him. Dumbing down of US via the education system is working great.
This "crisis" was the preplanned October Surprise. There was a similar but unsuccessful effort by the same characters in 2004 using currency futures. There were several articles about it at the time and much discussion here, but I think that everyone ultimately let it go because it failed. Clearly practice makes perfect when it comes to macroeconomic sabotage.
Soros is like a pimple on elephand’s ass. He is not big enough or powerful enough to mess up a 10 Trillion economy.
The role of a small group of DemonRATs to collapse the economy is the elephant in the room. It was calculated as a way to derail the Bush Administration and pin it on the Republicans. It was calculated to win the White House and greater control over the House and the Senate. It was calculated to change to makeup of the Judiciary.
When Lehman Brothers went bankrupt, the DemonRATs did not waste time to blame the collapse on Bush. Little was said about the DemonRATs and their promise to fix the economy prior to the 2006 elections.
Instead the DemonRATs were like those who started the fires in California in order to get jobs fighting them. Little did they know the extent of the fire storm they would generate. The DemonRATs takeover of Congress and the Senate gave them full control over the how they would bring on the downfall. The proof of their complicity is the fires started to burn and they did nothing to stop them.
With the economy heading for disaster if nothing was done, it seems obvious that those who did nothing were doing so for a purpose. That purpose was to allow a fire storm to go through the economy for political purposes.
I find it hard to believe that subprime mortgages caused this crisis. First, only 5 percent of the mortgages were subprime. Second, not all of them are in arears or default. And third, the subprime craze only lasted about a year a half.
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