Financial terrorism suspected in 2008 economic crash

The Washington Time ^ | 2/28/2011 | Bill Gertz

[TigersEye]

Without a shred of evidence, or even a metric to distinguish “financial terrorism” from simply pointing out that the US homeowner was, on average, insolvent, I have to put this in the CRAZY CONSPIRACY THEORY category.

What relation does the mortgage crisis have with the $550 billion dollar run on the markets on Sep. 15, 2008?

[Fresh Wind]

Where’s Kanjorski?

The evil Republicans kicked him out of office.

[babble-on]

The one caused the other. Were you guys all asleep during the financial crisis?

[A Strict Constructionist]

“What I can’t figure out is who likes it that way more,”

One thing that I have noticed is that this board lately has been quiet when it comes to defending WS. I think some have realized defending the indefensible selling of smoke and mirrors is a bad idea and some are just wishing and hoping for another chance. When Warren Buffet is seen to be just another shill with his Goldman-Sachs-Obama connection I can’t see how mom and pop would ever consider the market a good place to put their money until sanity is regained and only things with intrinsic value can be traded.

[TigersEye]

No, I wasn’t asleep. And I’m sane.

[HollyB]

Beck just spoke about this last night, incredible....when you get a chance, you should watch it.
.......
The first phase of the economic attack, the report said, was the escalation of oil prices by speculators from 2007 to mid-2008 that coincided with the housing finance crisis.

In the second phase, the stock market collapsed by what the report called a “bear raid” from unidentified sources on Bear Stearns, Lehman Brothers and other Wall Street firms.

“This produced a complete collapse in credit availability and almost started a global depression,” Mr. Freeman said.

The third phase is what Mr. Freeman states in the report was the main source of the economic system’s vulnerability. “We have taken on massive public debt as the government was the only party who could access capital markets in late 2008 and early 2009,” he said, placing the U.S. dollar’s global reserve currency status at grave risk.

[Red Steel]

Bump.

[444Flyer]

GB did a good job covering this yesterday didn't he? Of particular interest is why was this report leaked rather then released to the public. He seemed to think someone wanted to do the right thing and made it known. I can't even fathom the level of corruption going on behind the scenes right now. If we really knew of it all we definitely wouldn't sleep at night. And I mean that!