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9/11/2008 CATASTROPHIC FINANCIAL TERRORIST ATTACK CAUSED ECONOMIC MELTDOWN
Atlas Shrugs ^
| 2/12/09
| Pamela Gellar
Posted on 02/12/2009 9:52:25 PM PST by FromLori
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To: philman_36
Try that second snippet again...
Stable Investment Corp, which is registered at the same address as the CIC office in Beijing and shares employees with the fund according to the reports, held 11.1 per cent of Reserve Primarys shares, or around $5.4bn worth, at the start of September.
81
posted on
02/14/2009 2:28:51 PM PST
by
philman_36
(Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
To: FromLori
82
posted on
02/14/2009 2:34:33 PM PST
by
sonrise57
(Help us God for evil men have surrounded us.)
To: Robert A. Cook, PE
Look for motive.To keep from losing their shirt.
Reserve Primarys loss was triggered on September 16 when it was forced to value $785m worth of Lehman Brothers debt securities at zero in the wake of the investment bank filing for bankruptcy protection.Method.
Advance warning from Reserve Primary Fund.
Then on September 15, 2008, when Lehman Brothers Holdings filed for bankruptcy, defendants were still holding onto $785 million of its debt obligations, which were now worthless and furthermore by the afternoon of September 16, defendants had allowed about a dozen institutional investors to withdraw a total of over $40 billion from the fund, at the net asset value price of $1.00 per share, so the lawsuit.
Opportunity.
Same as above.
83
posted on
02/14/2009 2:36:44 PM PST
by
philman_36
(Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
To: philman_36
Things that make you go “Hmmmmn.”
For later reading. (Now, why would two such separate articles read so much alike? 8<) )
84
posted on
02/14/2009 2:38:17 PM PST
by
Robert A Cook PE
(I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
To: Arizona Carolyn
Bush was not himself the last year.. it was more pronounced as the summer wore on...
Agreed!
To: Robert A. Cook, PE
Global Recession and China China, which has primarily held its $1.8 trillion in currency reserves in low-yielding U.S. government debt, set up CIC last year to put about $200 billion into assets with higher rates of return, such as stocks and corporate bonds. It invested $5 billion in Morgan Stanley, the second-biggest U.S. investment bank, and $3 billion in buyout firm Blackstone, manager of the largest leveraged buyout fund. Both New York-based companies have lost more than 70 percent of their market value since the purchases.Snip...A Sept. 29 2008, SEC filing shows that Stable Investment held 11.1 percent of Reserve Primary's institutional shares at the beginning of the month. Based on the 48.9 billion institutional shares outstanding as of May 31, the most recent information available, Stable Investment's stake would have totaled about $5.4 billion.
Stable Investment has also invested roughly $5.9 billion in three other U.S. money market funds, according to documents filed earlier this year with the SEC. That includes $2.1 billion in the Invesco Aim Liquid Assets Portfolio; $2.3 billion in the JPMorgan Prime Money Market Fund; and $1.5 billion in Deutsche Asset Management's DWS Money Market Trust.
By Sept. 16 2008, the day after Lehman had filed for bankruptcy protection, investors had sought to withdraw $40 billion from the $62.5 billion Reserve Primary fund. Reserve Primary ended up releasing $10 billion at a rate of $1 a share. The last value published for the fund was 97 cents a share. Reserve Primary's loss triggered a widespread run in which investors withdrew $133 billion from U.S. money-market funds the following two days.
Revenge is a motive, isn't it?
86
posted on
02/14/2009 3:24:04 PM PST
by
philman_36
(Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
To: philman_36; neverdem; patton; MHGinTN
So, the question for the men running (Communist) China is: Is losing 500 billion (in immediate cash value) as their 1.8 trillion investment in American stocks and government bonds loses 40% of its value (because of Obama’s socialist policies) worth more than the value of destroying America’s (formerly) free, open, capitalist society (because of Obama’s socialist policies)?
87
posted on
02/14/2009 6:43:52 PM PST
by
Robert A Cook PE
(I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
To: Robert A. Cook, PE
They are Chinese. They will find a way to profit from both.
88
posted on
02/14/2009 6:47:27 PM PST
by
patton
(SPQA - the last, the least and the lost)
To: Robert A. Cook, PE
89
posted on
02/14/2009 6:52:11 PM PST
by
philman_36
(Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
To: FromLori
[THURSDAY was .......SEPTEMBER 11, 2008]
Just now reading your post Lori, I haven’t posted in awhile so missed a lot. This is more chilling than I realized.
90
posted on
02/16/2009 7:41:59 PM PST
by
potlatch
To: Robert A. Cook, PE
Wealth and power, not opposite ends of a spectrum; if the Chicoms can reduce our wealth by forfeiting some of their wealth based upon our wealth, they gain leverage power with what they have remaining in holding our debt. Thier power goes up markedly while we struggle to remain solvent as they hold the blade over our collective necks.
91
posted on
02/16/2009 7:55:51 PM PST
by
MHGinTN
(Believing they cannot be deceived, they cannot be convinced when they are deceived.)
To: FromLori
THURSDAY was .......SEPTEMBER 11, 2008 I believe, if you watch the tape, he corrects himself saying "no, Thursday the 18th."
This is my recollection as well.
92
posted on
02/16/2009 7:57:53 PM PST
by
Petronski
(For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
To: Obamageddon
The money market guarantee program was initiated on Thursday, September 18, 2008, thus that was the morning of the meltdown.Yes, and Kanjorski corrects himself on the tape.
93
posted on
02/16/2009 7:59:13 PM PST
by
Petronski
(For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
To: MHGinTN; neverdem
Regrettably, American/Western businesses can't see past the next quarter's profit-at-cost numbers, while the Chinese culture anticipates the next 100 year's rate-of-return.
American politicians - of course - can only see to the next poll and the next election.
(Then again, the Chinese were the ones that sent a fleet to India, returned to China with trade goods and information and maps, got turned down by the conservative bureaucrats in China, and never went back.)
94
posted on
02/16/2009 8:19:08 PM PST
by
Robert A Cook PE
(I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
To: Petronski; Obamageddon
The money market guarantee program was initiated on Thursday, September 18, 2008, thus that was the morning of the meltdown.I've been over this before and I'll do it again. The money market guarantee program happened on the 19th of Sept....
Treasury Announces Guaranty Program for Money Market Funds...so it
can't be the morning of the meltdown!
And as I've amply demonstrated the "melt down" happened on the 15th and 16th. It's already being named the new
"Black Monday" and
"Meltdown Monday"!
As I've tried to explain to Obamageddon he is wrong on his "facts". Are you going to ignore what's right in front of your eyes too?
I've met you in person before in Houston, if you remember, and I have no reason to BS you.
95
posted on
02/16/2009 8:48:30 PM PST
by
philman_36
(Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
To: philman_36
The point I tried to make was that the “run” was not the 11th of September, but a week later.
96
posted on
02/16/2009 9:23:23 PM PST
by
Petronski
(For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
To: philman_36; Petronski
The meltdown in the money markets occurred on the morning of Sept. 18, 2008 at around 11:00 A.M. EST.
You should recant your errors before tomorrow night when PBS plays their Frontline special Inside the Meltdown if you wish to avoid further embarrassment.
Bloomberg story
97
posted on
02/16/2009 10:11:07 PM PST
by
Obamageddon
(Birth certificate and college transcripts will be required for Federal employment, Mr. Soetero)
To: Obamageddon
Thank you for that important clarification.
98
posted on
02/16/2009 10:36:36 PM PST
by
Petronski
(For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
To: Obamageddon
Wow....PBS consults Krugman as an authority.
I’m shocked...shocked!
99
posted on
02/16/2009 10:39:41 PM PST
by
Petronski
(For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
To: Obamageddon
Too funny! The trailer is online...
Inside the MeltdownHere is what it says...
On Sept. 16, 2008, all around the world money stopped.So much for your "that was the morning of the meltdown!
Obamageddon
The money market guarantee program was initiated on Thursday, September 18, 2008, thus that was the morning of the meltdown.
And you're telling ME to recant? Too funny! Even the special you're touting contradicts what you claimed!
100
posted on
02/17/2009 12:29:06 AM PST
by
philman_36
(Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
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