Thank you for the kind comment. I wanted to share with you another way of looking at this.
Here may be a clue. Soros, J C Flowers and John Paulson all run HUGE hedge funds. They “bought” Indy Mac bank recently with Michael Dell. Probably got tax loss carry forwards forever plus govt money.
Schumer slimed Indy Mac back in October which then caused a run on the bank and it imploded. My guess is it was heavily shorted by those three hedge funds with the help from others.
WE HAVE BEEN FINANCIALLY DISARMED Trafalgar (for Atlas)
Much commentary on the trillion-plus “stimulus package” has noted its wastefulness and expansion of government power into every crevice of an individual citizen’s life. But no one has caught what should be blindingly obvious: We have unilaterally disarmed ourselves of the financial power to wage war. The cost of this bill surpasses the total outlay of the combined wars in Iraq and Afghanistan and will serve as the irrefutable excuse for Obama’s previously-expressed desire to de-weaponize our military. As the bill’s costs mount - in welfare payments, health expenses, union kickbacks and more - we will simply be unable to summon the financial strength to answer attacks on our country.
Combine this with the soon-to-come ending of sanctions against Syria and Iran, and the nationalization of our banks which can then freely convert to sharia finance models, and the situation is clear: Less than a month into Obama’s presidency, the United States has already surrendered to radical Islam.
Posted by Pamela Geller on Sunday, February 15, 2009 at 02:47 PM in FINANCIAL CRISIS ‘08: DEMOCRAT POLICY COMES HOME TO ROOST
http://atlasshrugs2000.typepad.com/atlas_shrugs/
http://www.efinancialnews.com/archive/tag/John_Paulson
http://indy-mac.blogspot.com/2008/12/unlimited-hedge-fund-withdrawals-john.html
(Newser) - Some Wall Street hedge-fund managers earned billions betting against the market last year, with the top of the class, John Paulson, shaking loose $3.7 billion, the New York Times reports. With the US median family income at $60,500, the booty embarrassed even some of his Wall Street peers. “It’s not illegal,” said Pimco’s CIO. “But it’s ugly.” More »
More about: Wall Street • subprime mortgages • hedge fund •
http://ceoworld.biz/ceo/2009/01/03/a-review-on-indymac-anf-imb-management-holdings/
Small correction:
Schumer slimed IndyMac in July of 2008. Now, IndyMac was heavily shorted before that, but it was pretty much dead by the time Schumer hit it with "disclosure".
Here is the big difference, if Chuck kept his mouth shut - the run on the banks would NOT happen, IndyMac would be quietly sold to one or two other banks with the help of FDIC / Treasury / Fed without taxpayers' losses (estimated to be approximately $8B for IndyMac to FDIC) and banking customers' panic that helped set the mood for hair-trigger panic response and run on the bank to any negative banking news, whether factual or fabricated, in the aftermath. Financial system and the economy, after all, is about confidence.
See Anatomy of Morgan Stanley Panic on how false rumors played into attempts to bring down US financial system, one financial institution after another.
One of the "plagues" during the Great Depression were systemic "bear raids" on the banks, the equivalent of arson in the financial system. Bernanke, as a student of Great Depression, understands that providing liquidity to the banks is a means of possibly stopping or helping prevent abuse of practice.