Replies

It’s pretty clear what happened, housing was going down companies like Bear and Lehman had to make good on the ‘insurance’ they provided investors...it was becoming quite clear they didn’t have the reserves to cover the losses...investors panicked. Had the government rescued Lehman it might have been avoided...Lehman going down triggered fear and uncertainty certainly. No matter what it would have happened eventually.

Had the government rescued Lehman it might have been avoided...Lehman going down triggered fear and uncertainty certainly. No matter what it would have happened eventually.

This is exactly what Soros wrote he expected the government to do was bail out Lehman. Why would he have that expectation? And did he have anything to do with a need for government to bail out Leham?

Lehman going down triggered fear and uncertainty certainly. No matter what it would have happened eventually.

That's the key there. If we had kept Lehman running, the government would have had to nationalize the banking sector through the Fed instead of TARP. The TARP crap at least pushed the problem out into the open instead of on an opaque Fed balance sheet. Either way we were/are screwed.

,,,,,it’s pretty clear what happened....

The $500 Billion run on money markets occurred within 1 hour. The time frame was 11:30 AM to 12:30 PM, on Thursday, September 18, 2008. When it became clear that an injection of $120 billion could not halt the hemorrhage, trading was suspended and the damage was irreparably done.

Your economically sophisticated and logical reasoning is quite sound. However, the event has many illogical, but equally sophisticated aspects that are inexplicable at the moment, including the precise timing and the identities of the prime movers in the event. So, it is not yet "pretty clear what happened," except if you are speaking of a damage report.

However, given George Soros's long and criminal history of currency manipulations conducted against governments other than our own, certainly an investigator would be amply justified in making him "a person of interest" in the case. Were I George Soros, I would be extremely grateful that those who investigate him will probably be Americans, not French, Indonesian, or especially the Russians.

..... No matter what, it would have happened eventually....

A reasonable assumption on your part, but an assumption none the less. It is an equally reasonable assumption that a coordinated blow was delivered against the financial system of our country on 9/18/08.