"The U.S. economic crisis was precipitated in late June 2008 by Democrat Senator Chuck Schumers intentional leak of a memo questioning the solvency of IndyMac bank. The memo triggered a deposit run on IndyMac which led to its failure. The combination of IndyMacs failure, Lehman Brothers collapse and Fannie Maes impending subprime mortgage crash effected a gathering storm in the markets until September 15th when, in a matter of hours, a colossal drawdown of money market accounts in the U.S. caused the disappearance of $550 billion from the American banking system. Rep. Paul Kanjorski of Pennsylvania stated if authorities had not closed the banks that day, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the U.S.
Combined with mortgage industry failures, this electronic run on banks handed the Democrats in Congress the justification to utilize the panic for political benefit and initiate the nationalization of the banking and mortgage industries under the $700 billion Troubled Asset Relief Program (TARP.) This early October Surprise propelled Barack Obama into office and provided further ammunition for his administrations deliberate takeover of the private market."
Thank you! Even with my morning coffee I couldn’t rightly recall. The point though, is that dems are just as guilty as the next worried person on the street. Worry, warning, and wisdom are not treason. But what a great ploy to remove political opposition!