This is such massive BS!
This started because of the CDOs and other debt instruments.
Now the game is blame it on anyone except the ones who started this mess:
Goldman Sacs, JP Morgan, Wells Fargo, and the rest of the boys.
Soros and the rest of the kids with the candy routed the market in July 2008 because McCain was leading Obama in Ohio, the bellweather state. What better way to roil people and demonstrate the economy in turmoil than rock the market. Point is, they went too far.
Calls are getting louder for prosecution of people who now work for the government in many cases.
Hence, the propaganda and BS about the “enemy.”
Pogo said it best, “We have met the enemy and he is us!”
You are correct sir.
And notice that not one of the Wall Street criminals who pocketed hundreds of billions with their leveraged derivative plays on crap housing debt has gone to prison, not one.
They own both parties.
The Pentagon should focus on fighting and winning wars, not financial analysis.
It did not take the Red Chinese, the Russkies or the Jihadists to take down Bear or Lehman.
They were rotten extremely overleveraged plays on crap housing loans made to people who couldn’t afford a house.
Lots of Americans made money shorting Bear and Lehman to where they were fairly valued, in bankruptcy.
The Pentagon should focus on fighting and winning wars, not financial analysis.
It did not take the Red Chinese, the Russkies or the Jihadists to take down Bear or Lehman.
They were rotten extremely overleveraged plays on crap housing loans made to people who couldn’t afford a house.
Lots of Americans made money shorting Bear and Lehman to where they were fairly valued, in bankruptcy.
Like many other people here on FR, you are not bothered with the fact that your falsehoods are the same as those promulgate by Marx, Hitler, Mussolini and now our own Left, do you?
Hitler claimed that financiers started WW I -- it was profitable for them -- and made Germany lose that war --- that too was profitable. Never mind logic (instability of any kind has always been the worst enemy for a financier) or facts. Every German knew that Hitler was right; no proofs were necessary.
The same was said in the Soviet Union: all wars --- WW II, in Korea, in Vietnam, in the Middle East --- are started by the capitalists and especially the financiers. And all Soviet people knew that to be true and never asked for proofs.
You too repeat the same garbage. And you too just know it to be true.
Well it is your moment in history, enjoy; you have great many kindred souls --- all those that swallowed and repeat commie propaganda and yet think of themselves as conservatives. The commie in the White House agrees with you completely and thanks you for doing his dirty work.
On Sep 18, 2008, at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two.
The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there.
If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it.
I wish the Repubs would investigate this.....it was right before elections, McCain ran back to WH...and Obama ran the meeting. I believe that cost McCain the Presidentcy.
In the second phase, untraceable investors attacked financial institutions such as Bear Stearns and Lehman Brothers in a 'bear raid'. The term refers to a strategy where investors try to force the value of companies down through malicious rumours or complex financial trades that impact its stock price.
Does anyone recall how Schmucky Schumer started the dominoes falling in the summer of '08? What does he know and who was he working with/for?
think multi-dimensionally. the street makes the mess, but nationstates aren’t stupid and can take advantage of this.
“Paulson claims Russia tried to foment Fannie-Freddie crisis”
SEPTEMBER 23, 2008 : (THE FBI IS INVESTIGATING 4 INSTITUTIONS WHOSE COLLAPSE HELPED TRIGGER BAILOUT PLAN: FANNIE MAE, FREDDIE MAC, AIG, & LEHMAN BROS) -——FBI Investigating Potential Fraud by Fannie Mae, Freddie Mac, Lehman, AIG,” Fox News ^ | Tuesday, Sep 23, 2008 | Staff