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 ...
I agree. How could such a small part of our population cause global fininacial decline???
Dear Gawd!
Right "on the money", pardon the pun. The MBS/CDO, GSEs and CDS conditions were in place Bear Stearns was the trial run of short selling pressure and "run on the bank" by investment counterparties. Schumer's deliberate exposure of IndyMac (which could have been calmly offloaded by FDIC to other financial institutions the way Countrywide was to BofA and many smaller REITs were) was the prelude to generating consumer panic and test of consumers' "run on the bank". Lehman's and AIG failures after the attacks in early September on them along with Morgan Stanley, Goldman Sachs and others, proved to be the nail in the coffin and resulted in complete cash crunch and credit freeze and sky high loan rates spreads (LIBOR, TED).
Anatomy of Morgan Stanley Panic
Defusing the Credit-Default Swap Bomb
Lehman's Chaotic Bankruptcy Filing Destroyed Billions in Value
Consider just this fact:
$11T-$14T in total mortgage market - that’s subprime (less than $1.5T) plus Alt-A plus prime, entire market. Some estimates put the total securitized market (MBS / CDO) at $7T-$8T. There was estimated $60+T of "insurance" (CDS) on it. That's not a “house insurance", that's a fuse underneath it that was waiting to be lit.
I always thought Soros and his Marxist friends caused the big crash to make sure obama won.
See post #24 for mechanism.
Yes, I call that the "man behind the curtain" moment. Soros is just one-- remember, he got rich by wrecking other countries currency.
But it's like I keep telling people:
"People get the kind of government
they want
and deserve..."
And no, the rest of us don't deserve it- but we are stuck with it, for "four more years..."
Damn it.
What’s really amazing is things are being said today that would have labeled us all kooks just a few years ago. A large number of people now trust nobody in the government and doubt nothing.
All that was then needed was for the Fifth Column (The MSM) to fan those flames until we had a destructive economic fire burning out of control and a Marxist President with all the answers. This had less to do with the brilliance of Democrats and more to do with the unbridled and improbable of the American electorate.
Well at least it is nice to feel like I am not the only nut on the tree. I have felt this was a setup since it first started. I don’t know enough about high finances to even listen to a discussion, but I know a skunk when I smell one. It was just all too convenient, and I think the urgency that Bush displayed was an attempt to cut them off at the pass, but I don’t think he was able to get enough, fast enough to get er done.
I will not be surprised if everything is suddenly all better once the half white president takes office, but it is very possible that they too have lost control of it and we are in for one nasty ride.
With this pick for the head of the CIA today, it could be not only nasty but deadly. God help us.
That's how I see it. Pity the News Jackals were so busy covering non-events that it slipped by their radar.
Obama at fund-raiser at Steven and Judy Gluckstern's home, April 9, 2007. George Soros is seated to the right of the stairs. (Photo: Michael Edwards, NY Magazine)
6,868 posted on Saturday, May 05, 2007
There were just too many coincidences in gas prices, financial crises, etc. for it to be true. I think that the Democrats did anything thing they could muster to gain power. Maybe I’m fooling myself, too. But who in their right mind would want this doofas in office?
“Most likely, yes.”
In that scenario it would be a case of following the money and or subjugation.
What singular person would have the money, time, ego or organization to do so? No organization could contain such for long (even with media containment...)
I believe that this is more a culmination of situations brought about by many people whose ‘work’ overcame their senses. Ego v principles.
(legislators, business, speculators, unwitting voters, etc)..
Consider it an ongoing example of the Peter Principle; regardless of voter, legislator, or media. (or poster, me)
I wrote about this and already stated the this was setup to be the October surprise. Remember Carville saying “It’s the Ecnomy stupid”? Yes, this was planned from the beginning.
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.
Although I am no conspiracy theorist, I feel that it is incorrect to assume that, just because something is complex and has the appearance of being chaotic, that it is indeed unplanned - especially when it comes to destroying a complex system.
Regards,
In the 2009 Predictions thread, I said that this economic crisis will go away as quickly and mysteriously as it started.
I’m already seeing the first signs.
This depression is brought to you by Hank Paulson, who, back when he headed Goldman/Sachs, prevailed upon Congress to repeal the Glass Steagall Act during the Clinton administration in 1998.
Glass Stegall was passed after Great Depression I to prevent the very collusion between commecial banks and investment banks that precipitated this crisis.
Now all of the investment banks have blown up due to high leverage and hedge funds are in the process of doing the same thing.
Biggest Oct. surprise yet and the stupid American voter fell for it.
Could you please elaborate on the signs you are seeing?
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