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A Contrived Crisis, You Decide
American Daily Review ^ | March 30, 2009 | Nancy Morgan

Posted on 03/30/2009 8:26:45 AM PDT by AJMCQ

Last summer, as McCain and Obama were in the midst of their campaigns to capture the presidency, a series of events dramatically changed the focus of the campaign from Iraq to the economy.

June 26, 2008: Democrat Chuck Schumer leaked a memo questioning the solvency of IndyMac bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank’s failure. “The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York.”

This event, coupled with the Lehman Brothers collapse in September, marked the beginning of the current economic meltdown and provided the ammunition for massive government intervention in the private market.

* July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank.

* Sept. 6, 2008: Fannie Mae begins the spiral, which will end with a crash in November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were identified in June of 2006, when 15 Republicans on the Senate Banking Committee introduced legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.

* Sept. 15, 2008: Obama and McCain are virtually tied in their race for the presidency. Out of no-where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of money market accounts in the U.S. to the tune of $550 billion. Rep. Paul Kanjorski of Pennsylvania said that if authorities had not closed the banks, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the US within 24 hours.

(Excerpt) Read more at americandailyreview.com ...


TOPICS: Constitution/Conservatism; Crime/Corruption; News/Current Events; Politics/Elections
KEYWORDS: clowardpiven; georgesoros; usurper; waroncapitalism
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To: SERKIT

Interesting quotes ...

Quote from Woodrow Wilson

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”

__________________________________________________________
and

“If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

THOMAS JEFFERSON


21 posted on 03/30/2009 10:34:47 AM PDT by geologist (The only answer to the troubles of this life is Jesus. A decision we all must make.)
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To: silverleaf

Looks like an oh for nine dude! Take some extra BP


22 posted on 03/30/2009 11:07:14 AM PDT by newbie 10-21-00
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To: SERKIT

Bookmark


23 posted on 03/30/2009 1:12:47 PM PDT by Dr.Deth
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