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Feds Cite Schumer In Collapse Of IndyMac
LA TIMES ^ | July 11, 2008 | Peter Viles

Posted on 12/22/2008 1:15:40 PM PST by Sergeant_Ronbo

Feds Cite Schumer In Collapse Of IndyMac

An important angle in the IndyMac failure that may get lost in ominous headlines tonight and tomorrow: federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank's failure. In simple language, federal regulators blamed Schumer for a run on the bank.

(Excerpt) Read more at latimesblogs.latimes.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events; Politics/Elections; US: New York
KEYWORDS: 110th; america2point0; banking; bankingcrisis; charlesschumer; chuckschumer; criminalconspiracy; cultureofcorruption; democratscandals; economy; election; howtostealanelection; indymac; recession; schumer
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To: Faith

Then we had Harry Reid come out and say that America’s most famous insurance companies were on the verge of failing.

Between Schmucky and Reid the imbecile, they just about took down the stock market and hundreds of thousands of jobs.


41 posted on 12/22/2008 2:36:16 PM PST by Carley
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To: Sergeant_Ronbo
Photo Sharing and Video Hosting at Photobucket

Never trust a guy who looks like he had a lead role in “Who Framed Roger Rabbit.”

Chucky seen here fresh from his starring role in “Who Screwed the American People (Again!).”


42 posted on 12/22/2008 2:42:20 PM PST by Dick Bachert
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To: Sergeant_Ronbo
it's spelled SCHWULER!!!

(Schwuler = Fag in German)

43 posted on 12/22/2008 3:21:34 PM PST by Chode (American Hedonist -)
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To: griswold3

What is a capital strike and when did Schiff discuss it?


44 posted on 12/22/2008 3:24:34 PM PST by Betty Jane
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To: All
Watch for more from Melanie in the near future. For further reading:

http://www.spectator.co.uk/melaniephillips/3183236/the-fifth-column-of-the-fourth-estate.thtml

http://www.spectator.co.uk/melaniephillips/3185476/the-reckless-imf.thtml

45 posted on 12/22/2008 3:31:46 PM PST by MHGinTN (Believing they cannot be deceived, they cannot be convinced when they are deceived.)
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To: MHGinTN

Rush Limbaugh said this today concerning Comrade Chuckie:

By the way, I have a little story here. Do you know that the Treasury secretary, Hank Paulson, was giving Bernie Madoff and his associates personal briefings on the market as it was plunging through a political action committee? So the regulators were telling Madoff in advance where we’re heading, what’s happening. I’ll give you details on it in just a second. And then Mr. Snerdley reminded me, it was Chuck Schumer — when was this, in September? Early October? It was sometime in the fall. We’ll double-check it. Chuck Schumer started a run on a California bank. Schumer said, (paraphrasing) “It’s my responsibility, people have to know the health of our financial institutions.” And so whatever this bank was in California, people started a run on it because a United States Senator on high-ranking committees had told ‘em their bank was worthless. And I’m just wondering — of course, this cannot be proven. It was IndyMac in late June. All right, so it was preconvention, and that’s when all of this started, when people started losing faith in their own bank, “Oh, my God, Indy bank in California, Indy bank?” And there was a run with people standing in line, started by Chuck Schumer, and he was asked about it, and he denied it, “No, we’re just trying to protect the solvency and the safety of Americans’ assets out there.”

Within days of Chuck Schumer starting this run on IndyMac, $1.3 billion had been taken from the bank, people had taken that much out, the Feds, the FDIC had to step in there and stop it to save the bank, because there was such a run. It was started by Chuck Schumer. Now, just cut to the chase here. Back to this October Surprise. I am just wondering — as I say, it can’t be proven — I’m just wondering if a lot of this was by design, to create economic panic, remember now, the Iraq war had dominated everything, and the economy was said to no longer be an issue in the campaign, for the first time. Corruption, other things were, ethics, when the Republicans had those problems, but the economy wasn’t. They wanted to create economic crisis, a mind-set of this. So Chuck Schumer goes out, starts a run, a $1.3 billion run on IndyMac, and then all of us, look what we learned, all these mortgages are worthless, all the mortgage derivatives and the mortgage backed assets, they are worthless, everything was worthless, there was no “there” there. Every institution, every guy in the institution was an empty suit, and we had to bail out this and bail out that and it didn’t help.

I just wonder if what was a planned attempt to scare people economically, start a little run on a bank and do this, that, and the other thing, has now spun so far out of control, it’s gone so far beyond what the intention was, just to win an election, that nobody knows what to do about it now. The only mitigating argument against that is that the number one, the primary beneficiary of this — and you have to look, even in an economic collapse like ours, there are beneficiaries. Who’s benefiting? Who is benefiting? Aside from the people being bailed out, the Democrat Party and Barack Obama are benefiting. They got elected, they increased their numbers in the House, they increased their numbers in the Senate, they got the White House now, and they’ve got a crisis that people think can only be fixed with the almighty and powerful government interceding to save this or to save that or to do whatever when in fact the government is going to nationalize the automobile industry, gonna nationalize some banks, is gonna nationalize the mortgage industry, and may end up nationalizing the automobile industry. And everybody is sitting around arguing on the merits, “Oh, God, glad they did it, oh, I’m glad they did it, oh, thank goodness, they saved the UAW, they saved the auto companies.”

Everything has been presented to us, “We can’t let this fail; it’s the end of America.” We recently learned also that the Treasury secretary, Hank Paulson was cited talking about how bad the economic conditions were, was wrong. The numbers that he was given to cite how rotten the economy, they were wrong just before we did the $700 billion TARP bailout. But doesn’t matter, we’ve done it, and now TARP has become United Auto Workers bailout. People are sitting by letting this happen with great hope, by the way, that it will fix what’s wrong. Miraculously the stock market will rebound. So the Obama team and the Democrat Party are benefiting tremendously from this, even if it has spun outta control. If it’s spun outta control they’ll make due with the new crisis they’ve created a la Rahm Emanuel. But the reason I think it has spun a little bit out of control and gone a little further than they intended is that even the Obama people are saying, “Hey, it’s going to be really bad for a really long time.”

http://www.rushlimbaugh.com/home/daily/site_122208/content/01125113.member.html


46 posted on 12/22/2008 3:52:15 PM PST by Sergeant_Ronbo
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To: Sergeant_Ronbo

Time to start phoning your Senators and demand an investigation....


47 posted on 12/22/2008 4:02:59 PM PST by mabelkitty (What does Obama know, and when did he know it?)
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To: Sergeant_Ronbo

Castration is too good for a worthless little puke like Chuckie Schumer........... he should be run out of town and run out of the country, as the treasonous, snivelling little wretch that he is......


48 posted on 12/22/2008 4:06:17 PM PST by Enchante (Bernie Madoff Learned His Investment Strategy from our Social Security System!!)
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To: mabelkitty
Unfortunately, Karl Lenin is busy looking over the top of his glasses and down his nose upon you and me. (She's hardly) Li'l Debbie Stabenow is looking for a TV camera with a wide enough lense so she can stand in front of it to take credit for the UAW bailout which she had no leadership role in enacting, just like she never leads on anything except in the heart of the UAW. Michigan has pretend senators.

Merry Christmas.

49 posted on 12/22/2008 4:06:39 PM PST by RushLake (Typical White person.)
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To: b4its2late

Schumer makes the Madoff Ponzi scheme look like petty robbery. By inciting the bank panic, Schumer squandered 3 trillion dollars in retirement savings.

Madoff did it for greeed. Schumer did it because he is a traitor.


50 posted on 12/22/2008 5:56:18 PM PST by y6162 (ater)
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To: Sergeant_Ronbo
Also, did he realize when the wheel stops spinning, the result may be fatal to his personal existence and that of his political party?

There's an old joke that if we shot one congressman every morning, the rest of 'em would fall in line pretty quickly.

I'll probably get banned for that joke.

When this is all over, we may wish we had nipped it in the bud by stringing up a few as a warning to others....I'v been wanting to post these thoughts since the crash began in October, but was successful in suppressing my rage until now.

Democrats NEVER have to say they're sorry.

51 posted on 12/22/2008 6:17:33 PM PST by happygrl (BORG: Barack 0bama Resistance Group: we will not be assimilated)
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To: Enchante
Castration is too good for a worthless little puke like Chuckie Schumer

Yeah, but ya know what? I'd still like to see it happen, just for the entertainment value.

But that's just me:)

52 posted on 12/22/2008 6:39:20 PM PST by happygrl (BORG: Barack 0bama Resistance Group: we will not be assimilated)
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To: happygrl

If you are banned... well it was good while it lasted - ehh?


53 posted on 12/22/2008 6:51:42 PM PST by sgtyork (The secret of happiness is freedom, and the secret of freedom, courage. Thucydides)
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To: Sergeant_Ronbo

Good post. If the Feds (and the rest of us) follow this lead it should be bountiful. The IndyMac leak couldn’t have been anything but intentional, and that’s without knowing Schumer was behind it.


54 posted on 12/22/2008 8:05:39 PM PST by corvus
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To: Sergeant_Ronbo

4 later


55 posted on 12/22/2008 8:12:10 PM PST by AprilfromTexas
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To: Sergeant_Ronbo

thanks, bfl


56 posted on 12/23/2008 12:07:29 PM PST by neverdem (Xin loi minh oi)
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To: Sergeant_Ronbo

Closer in analogy to the Riechtag fire.


57 posted on 12/23/2008 4:13:10 PM PST by CPT Clay (Drill ANWR, Personal Accounts NOW ,)
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To: Albion Wilde
Need captions!
58 posted on 12/23/2008 4:14:52 PM PST by Churchillspirit
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To: Sergeant_Ronbo

Yet Trent Lott is the senator who gets ousted.... for making a joke in poor taste at a private gathering. We have entered the Twilight Zone.


59 posted on 12/23/2008 5:21:09 PM PST by NewJerseyJoe (Rat mantra: "Facts are meaningless! You can use facts to prove anything that's even remotely true!")
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To: BlessedBeGod

The sooner this schmuck goes to Hell the better.


60 posted on 12/23/2008 7:27:22 PM PST by steamroller
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