2008 Market Crash Should be Investigated (and 2018?)

Canada Free Press ^ | April 8, 2010 | Jeff Lukens

[lasereye]

Back in 2008 there was an underlying problem: massive bad loans causing a credit freeze. Today there is no such thing. I watched Jim Cramer on CNBC tonight and he mad it clear this is not like 2008, pointing out the banks are sound etc.

Besides Soros I've heard sovereign wealth funds may have been behind the 2008 crash.

This stock market drop may turn out to be just a "correction" in hindsight. They happen from time to time. But at the moment this is looking very strange. The speed of it is unusual. If it continues declining right up to election day and then magically starts going up again it will be a virtual certainty this was not a normal correction.

[Windflier]

Looks like you posted the whole blog post. Good job!

[kiltie65]

Wasn’t that the reason Soros got deported from Britain? He had tried something similar there. Why doesn’t he get his sorry a$$ deported from the United States?

[Boardwalk]

Yes Soros could!

[Mears]

A tad off topic but Jim Cramer spoke at my grandaughter’s college graduation——a great speech.

.

[Califreak]

Because he’s bought most of our politicians.

[rdcbn]

There were Congressional investigations on the 2008 market crash and ensuing financial crisis.

Testimony was provided that the there was an attempt to withdraw a total of in the neighborhood of at least 5 Trillion dollars from the US economy and that quick action by the Treasury Dept put a stop to the drain after only 550 billion dollars had been withdrawn.

The identities of the entities who entered the 5 trillion dollar withdrawal and where the money went after it was withdrawn was never disclosed but several military intelligence officers gave the opinion that the 2008 crash was created by an act of economic warfare against the United States.

Several Trillion dollars is a lot of money and it would require collusion between a number of wealth funds or very large money managers to pull that much money out of the US economy

[Jane Long]

LOL....good on you, for including (2018) ;-)

[a fool in paradise]

>>Almost two years after the mortgage crisis and stock market crash, no one seems to wonder about the “September surprise” that shifted the 2008 presidential election to an unknown leftist politician who had been elected to the Senate only two years before.

Barney Frank got some young male ass out of it

http://www.freerepublic.com/focus/news/2086850/posts

September 11, 2003

NYT: New Agency Proposed to Oversee Freddie Mac and Fannie Mae

By STEPHEN LABATON

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates.

~~ snip ~~

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.

[a fool in paradise]

Jamie Gorelick got 26,000,000 pieces of silver

https://www.cnsnews.com/news/article/former-clinton-official-paid-26-million-fannie-mae-taxpayer-bailout-now-obama-shortlist

Former Clinton Official Paid $26 Million by Fannie Mae Before Taxpayer Bailout Now on Obama Shortlist to Run FBI
By Chris Neefus | March 23, 2011 | 5:00 AM EDT

[a fool in paradise]

how queer this puzzle is

https://www.foxnews.com/politics/rep-barney-frank-admits-to-helping-ex-lover-land-job-at-fannie-mae
Published May 26, 2011Last Update December 23, 2015
Rep. Barney Frank Admits to Helping Ex-Lover Land Job at Fannie Mae

Rep. Barney Frank says there was no conflict of interest in him helping his former lover secure a job with Fannie Mae 20 years ago while he was on the committee charged with overseeing the lending giant.

“It is a common thing in Washington for members of Congress to have spouses work for the federal government,” Frank told the Boston Herald Wednesday night. “There is no rule against it at all.”

Frank explained to the newspaper that he helped his ex-companion, Herb Moses, get a job at Fannie Mae in 1991 when one of its executives approached him about Moses, who had graduated with a master’s degree in business administration from Dartmouth College and had applied for a job at the mortgage company.

http://freerepublic.com/focus/f-bloggers/2097798/posts
Barney Frank’s Lover, Herb Moses, Was a Senior Executive at Fannie Mae
American Nonsense ^ | October 3, 2008

According to National Mortgage News, Moses “helped develop many of Fannie Mae’s affordable housing and home improvement lending programs.”

Of course, such programs led to the mortgage meltdown that prompted last month’s government takeover of Fannie Mae and its financial cousin, Freddie Mac. The giant firms are blamed for spreading bad mortgages throughout the private financial sector and putting the country on the brink of financial meltdown.

[a fool in paradise]

Warren Buffett lost billions trying to run up the price of gas while Bush was president in 2008

http://www.freerepublic.com/focus/f-news/2197185/posts
BUFFETT: I WAS ‘DUMB’ (sends 21 page letter to shareholders)
NY POST ^ | 3/2/09 | RICHARD WILNER

IN LETTER, ORACLE ADMITS TO ERRORS IN WORST-EVER ‘08

Warren Buffett admitted to doing some “dumb things” in 2008 - the worst year for Berkshire Hathaway in the 44 years he has run it. A brutal stock market decline amid a teeth-gnashing recession pushed Omaha-based Berkshire to a 96% drop in profits, its fifth straight quarterly earnings decline. Buffett, known as the Oracle of Omaha for his decades-long record of picking value investments, said buying ConocoPhillips shares when gas and oil prices were at their peak was perhaps the dumbest move in 2008. Berkshire bought 84.9 million shares at $82 a share - it closed Friday at $37.25, Buffett’s paper loss was $2.6B. “I still believe the odds are good that oil sells far higher in the future than the current $40-$50 [per barrel] price,” Buffett wrote... “But so far I have been dead wrong.”

[a fool in paradise]

We should extradite Soros to one of the countries unhappy with his attempts to ruin their economies.

[ncalburt]

Rusia has a warrant out for him .

[originalbuckeye]

McCain suffered from ignorance of the manipulation by the dark forces. He immediately suspended his campaign to return to DC and help with the voting. Obama (also a Senator) on the other hand, said (cooly) ‘they can call me if they need me’. From then on, Obama was ahead and the rest is sadly the history of our country. No one will ever be able to convince me that Obama didn’t know exactly what was going on. And the manipulation of naive Americans put him in the White House.

[marktwain]

McCain suffered from ignorance of the manipulation by the dark forces.

Could be. He famously said, more than once: "The Media is my base."

McCain was not stupid, but he was a "Progressive".

[Engedi]

I remember this happening. McCain looked like a fool afterwards and Obama, knight in shining armor.

Obama wiped the floor with McCain, embarrassed him and cost him the election and yet McCain voted to help Obama as President. McCain never hated Obama like he did Trump.The Obama’s even got an invite to his funeral.

[Boardwalk]

I had a very good looking male friend who said he would deny it but Barnie Frank grabbed his ass at a rally from a hand on his shoulder right to his ass. Of course my friend was a liberal but still!

[lasereye]

LOL....good on you, for including (2018)

Something fishy may be happening now as well as then, which is why I posted this. The speed of this stock market decline seems suspicious.

[drdirt333]

I have no doubt the Deep State is manufacturing this turmoil.