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Financial Terrorism Suspected in 2008 Economic Crash Pentagon study sees element
The Washington Times ^ | February 28, 2011 | Bill Gertz

Posted on 03/01/2011 7:32:45 PM PST by khnyny

Evidence outlined in a Pentagon contractor report suggests that financial subversion carried out by unknown parties, such as terrorists or hostile nations, contributed to the 2008 economic crash by covertly using vulnerabilities in the U.S. financial system.

The unclassified 2009 report “Economic Warfare: Risks and Responses” by financial analyst Kevin D. Freeman, a copy of which was obtained by The Washington Times, states that “a three-phased attack was planned and is in the process against the United States economy.”

While economic analysts and a final report from the federal government's Financial Crisis Inquiry Commission blame the crash on such economic factors as high-risk mortgage lending practices and poor federal regulation and supervision, the Pentagon contractor adds a new element: “outside forces,” a factor the commission did not examine.

“There is sufficient justification to question whether outside forces triggered, capitalized upon or magnified the economic difficulties of 2008,” the report says, explaining that those domestic economic factors would have caused a “normal downturn” but not the “near collapse” of the global economic system that took place.

Suspects include financial enemies in Middle Eastern states, Islamic terrorists, hostile members of the Chinese military, or government and organized crime groups in Russia, Venezuela or Iran. Chinese military officials publicly have suggested using economic warfare against the U.S.

In an interview with The Times, Mr. Freeman said his report provided enough theoretical evidence for an economic warfare attack that further forensic study was warranted.

“The new battle space is the economy,” he said. “We spend hundreds of billions of dollars on weapons systems each year. But a relatively small amount of money focused against our financial markets through leveraged derivatives or cyber efforts can result in trillions of dollars in losses. And, the perpetrators can remain undiscovered.

“This is the equivalent of box cutters...

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


TOPICS: Business/Economy; Crime/Corruption; Front Page News; News/Current Events
KEYWORDS: 2008; attack; business; china; economicattack; economy; financialattack; georgesoros; islam; meltdown; russia; soros; wot
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To: Navy Patriot
[Then Ferguson makes case that banks ]
 
But Roland "The Godfather of Subprime" Arnall's pirate flagship - Argent Mortgage / Ameriquest, wasn't a bank.
 

 
Banks have holdings from depositors to whom they owe a fiduciary responsibility.
 
The predators in the Shadow Banking system had neither deposits nor fiduciary responsibility.   They just had a technological firehouse they shoved up the backside of the financial industry; with which they gave the American people an a$$paper cashenima.
 
 

21 posted on 03/01/2011 8:32:28 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: yldstrk

Amazing!!! What a bunch of idiots! Anyone with an ounce of brain matter could see this!


22 posted on 03/01/2011 8:34:12 PM PST by antceecee (Bless us Father.. have mercy on us and protect us from evil.)
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To: Navy Patriot

The repeal in 1999 of the Glass-Steagall act.


23 posted on 03/01/2011 8:37:54 PM PST by khnyny (What exactly is a CDO??)
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To: yldstrk

Yeah, pretty obvious. Also obvious (to me anyway) was one of their goals of the crash was to also get their marxist muslem toad Obama into power. Then they could REALLY bring down the U.S. economy, and the Nation with it. And it is working.


24 posted on 03/01/2011 8:38:23 PM PST by 21twelve ( You can go from boom to bust, from dreams to a bowl of dust ... another lost generation.)
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To: khnyny
[I've personally come to the conclusion that Wall Street, much of our government and most of the big banks are nothing more than parasitic ticks which suck the blood off of their “customers” and “constituents”. ]

Meet the New Boss, Same as the Old Ba'al
--The Who?

Ba'al being a Hebrew word for owner, lord, possessor, MASTER --- Typically manifested throughout history via the merger of commerce, government, and religion - rendering a state of affairs where:

"COMMERCE BETWEEN MASTER AND SLAVE IS DESPOTISM"
--Thomas Jefferson

Sort of kike that time back when.... 

"Gee, Moses has been up on that hill an awful long time - he and his God must be dead; so hey, let's just throw all our gold into the fire and then worship what comes out!"

 

That was a "Ba'al out" too, get it?  {Badumpump}

25 posted on 03/01/2011 8:46:17 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: khnyny
Alan Greenspan --- "Rethinking Glass-Steagall"
"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"

Rules?  We don't need no stinking rules!

 

 

 

26 posted on 03/01/2011 8:55:35 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: LomanBill
You are certainly correct, shadow banks, banks, real estate appraisers, and brokers all acted illegally. Some ethical banks, when extorted by Greenline and the Feds, did not stoop to out cheating the cheaters. Those banks, removed themselves from the home mortgage market, defeating the Marxists and remaining ethical.

The purpose of my post on this thread is to prevent misdirection of attention away from the Federal government, DemoRats and RINOs who are the primary cause that this could occur.

27 posted on 03/01/2011 8:55:35 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: khnyny
The repeal in 1999 of the Glass-Steagall act.

Yep, that was the removal of the good working regulations.

28 posted on 03/01/2011 8:59:08 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: khnyny

There is only one real suspect...George Soros!

And it helped him get his Commie into the White House!


29 posted on 03/01/2011 9:08:30 PM PST by Stayfree (Find out the truth at RewardForObamasBirthCertificate.com!)
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To: khnyny
The NSA should pay Tom Clancy large sums of money to NOT publish novels.

Debt of Honor was about flying a commercial passenger plane into Congress, and as a subplot, electronically sabotaging our financial markets.

His novels are primers for bad guys. And our guys are idiots if they aren't reading his stuff.

30 posted on 03/01/2011 9:21:45 PM PST by Tex-Con-Man
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To: wolfpat

That creature is completely demonic. Straight from the pit of hell.


31 posted on 03/01/2011 9:23:02 PM PST by ottbmare (off-the-track Thoroughbred mare)
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To: khnyny
The Greenlining Institute took the Community Reinvestment Act and a bunch of Marxist DemoRats and extorted risky loans for unqualified buyers from banks.

Without this action the housing price bubble would not have been so big, and banks would not have been tempted to go outside the law.

32 posted on 03/01/2011 9:26:10 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: Navy Patriot
 [Those banks, removed themselves from the home mortgage market, defeating the Marxists and remaining ethical.]

That's right, and some of those honest banks are still in business - still resisting the efforts of select jackwagons on Capital Hill, like Dick Durbin, to effect otherwise.

It's economic warfare alright - but we need look no further than Chicago for the usual school of suspect, criminally minded, punks.

Exhibit A: 

Penny Pritzker - National Finance Chairwoman for the Obama campaign - whose Chicago family-owned Superior Bank FAILED in 2001 from the effects of its pioneering efforts in the Sub-prime finance debacle.


33 posted on 03/01/2011 9:28:19 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: LomanBill

How could someone’s bank fail in 2001 fro the “Sub-Prime Debacle” which wouldn’t occur until 2007-8?


34 posted on 03/01/2011 9:35:03 PM PST by REDWOOD99
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To: LomanBill
we need look no further than Chicago for the usual school of suspects

Yep, thanks for the reminder, Penny and the rest of Obama's campaign women had slipped my mind.

35 posted on 03/01/2011 9:42:40 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: REDWOOD99
The Community Reinvestment Act went into effect in 1978, and was the Fed law used to go out on a limb. Penny's bank did it voluntarily, the Marxists don't have to be forced to steal other peoples money. They get ahead of the curve.
36 posted on 03/01/2011 9:47:42 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: REDWOOD99
[How could someone’s bank fail in 2001 fro the “Sub-Prime Debacle” which wouldn’t occur until 2007-8?]

"Superior, co-owned by Pritzker family trusts, began focusing on subprime loans in 1993,"

Evidently growing ACORNs in a$$paper produces the same putrid fruit regardless of the vintage

37 posted on 03/01/2011 10:00:12 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: khnyny

Interesting story I’d be interested in giving more consideration to if only author had linked the actual Pentagon report being cited.


38 posted on 03/01/2011 10:20:33 PM PST by fso301
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To: Navy Patriot

[but why would established banks suddenly start to do this]

Wasn’t that because George Bailey jumped off the bridge and there was no one to stop Mr. Potter from turning the whole town into Pottersville?

Or maybe it was because they didn’t have a vested interest in the communities they were raping?

As one “manager” of application support at Argent Mortgage explained it to me - “We’re not predators - Those people are uneducated, ignorant, and stupid - so they DESERVE to be taken advantage of” (right Dave?).

Can you imagine cashing a check at a bank whose tellers were indoctrinated with such an attitude - and so shortchanged folks because, well “our customers are stupid”?

Me neither.

Where’s LEO?


39 posted on 03/01/2011 10:21:22 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: Navy Patriot
If the "terrorists" did it, then Bawney Fwank, Obama, DemoRats, and Federal home lending requirements are all innocent!

Let's not go silly.
This report does not nullify any previous findings. It simply identifies a suspected new significant and as yet unidentified player.

"Nothing to see here?"

Again?

40 posted on 03/01/2011 10:34:58 PM PST by Publius6961 (There has Never been a "Tax On The Rich" that has not reached the middle class)
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