Posted on 02/23/2009 6:03:35 AM PST by AJMCQ
Through a series of supposedly random but arguably deliberate chain of events, America is poised to jettison 220 years of a free market system called capitalism, in favor of the tried and failed system of socialism. This writer, and others, are now starting to question how we reached this point.
Last summer, as McCain and Obama were in the midst of their campaigns to capture the presidency, a series of events dramatically changed the focus of the campaign from Iraq to the economy. From that point on, Obama took the lead and eventually won the presidency.
June 26, 2008: Democrat Chuck Schumer leaked a memo questioning the solvency of IndyMac bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank’s failure. “The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York.”
(Excerpt) Read more at canadafreepress.com ...
And everything went haywire from there.
“Six months later, Jan 2, 2009, a seven-member group of investors agreed to buy the remnants of failed lender IndyMac for $13.9 billion. Other investors included a fund controlled by billionaire George Soros’ Fund Management”
This was news to me! Stunning!
Thanks for posting this great article.
It is simply unbelieveable that our own media cannot report the truth. Truth became optional quite some time ago...
The MSM has destroyed itself. Newspaper and network reporting can no longer be believed.
BFL.
The MIGHTY MEDIA MONOLITH reports nothing of any CONSEQUENCE....just the latest celebritiy antics.
Main Stream Media = Obama Presscore
I keep wondering where Soros keeps HIS money. I wish I could get a look at his books. And I find it strange that after Schumer opened his big mouth and caused IndyMac to go down, Soros later invests in it. Complicity?
BFL
I’d like to get a look at Schumer and Chris Dodd’s books too. Chris caused another ‘crisis’ last week with his ‘Banks are going to be nationalized’ leak. Fox News just reported that Obama and the Feds are going to announce another ‘billions of dollars’ bail-out of banks this week!!
Also a new massive tax on ‘carbon emmissions’.
It looks like Obama is trying very hard to ruin our economy.
Market fixing to open and my guess is that it is going to tank even more.
I’m not convinced that the economy wasn’t nudged, but to say the money market run came ‘from out of nowhere’ is either ignorant or disingenuous. This article completely ignores Bear Stearns, AIG, Lehman and all of the government’s actions in response thereof.
“Out of no-where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of money market accounts in the U.S. to the tune of $550 billion.”
Ok, I’ve been reading this everywhere lately.
What? They can’t tell who was yanking the money?
And while that may indeed have been orchestrated, Bush couldn’t bother to call them on it? Instead he had to open the floodgates?
Here is a link showing the video footage:
Yet no one in the media has talked about or questioned Rep. Paul Kanjorski (D Penn) as to the specifics involving his statements.
Think back to the day before Nancy Pelosi and the Democrats took over the Congress. Think. - They HAD to DESTROY “Bush” and the Republican Party and, apparently, would do ANYTHING to do so. . even if it meant sinking this country so they could re”build” it in their own image. What a mess!
I did read something about Soros making a statement about the economy going up, and then investing in it going down. If I have that right, that’s how he took over the economy in other countries and made billions doing it.
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