Posted on 09/11/2009 9:42:33 AM PDT by FreedomFighter1013
President Obama is planning a major address on Monday to mark the anniversary of the Lehman Brothers Collapse, to take credit for “taking us back from the brink.”
Well, a speech seems appropriate, since next week marks another anniversary, that's the week, a year ago, that the president's political fortunes changed for the better. One year ago today, Lehman Brothers collapsed, which set off a week of financial bloodletting on Wall Street. Within a month, the Dow Jones Industrial Average dropped almost 3,000 points from 11,421.99 on September 12 to 8,451.19 on October 10. By the end of the year some 40% of the world's wealth had vanaished, according to Stephen Schwarzman, chairman of the Blackstone Group.
Coincidentally, on September 8, 2008, after the Republican Convention (and the Sarah Palin bounce) the Real Clear Politics average of polls had the hapless McCain beating Obama 48.3% to 45.4%. But, when Lehman Brothers failed, all bets were off. By September 17, both candidates were neck and neck at 45.7% apiece and the rest, as they say, is history. (more)
(Excerpt) Read more at citizen5408.com ...
Unlike 9-11, our ‘financial 9-11’ is an inside job. And both parties are to blame.
I am convinced that the Marxist Billionistas like Soros engineered the financial panic that swept Obama into the White House.
Until the Federal Reserve is abolished, the government will continue to play reindeer games with our economy and our very own personal wealth itself.
Sept 15 2008: Lehman Brothers goes taking $20 billion with it, $10 billion in additional draw down from Reserve fund.
Sept 16 2008: An additional $10 billion draw down from Reserve fund. 48 hour Reserve draw down total now $40 billion
Sept 17 2008: An additional $10 billion draw down from Reserve fund. 48 hour Reserve draw down total now $40 billion. 3,549.3 billion in total remains.
September 18: Reserve fund down $57 billion. $3,456.2 billion remains, a drop of another $93.1 billion from the 17th
Virtually all withdrawls were due to institutional investors, not retail.
This collapse was orchestrated.
I could not agree more. The best is yet to come.
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