Free Republic

CNBC’s Jim Kramer bizarrely touted the current state of the US economy as “the strongest economy” he has ever seen. This claim was made despite high inflation and high gas prices. It just happened to come after the Biden Administration met with news outlets about their economic coverage. Tucker Carlson responded to this on his Fox News show. Tucker played a clip of Jim Kramer from 2008 telling Americans not to take money out of Bear Sterns. This was a few days before it collapsed. Tucker continued to blast Kramer. “In a normal country, with a functioning meritocracy, anyone who...

A close associate of convicted businessman Tony Rezko testified in Rod Blagojevich’s trial this afternoon that a onetime National Republican Committeeman loaned him $600,000 — no questions asked. As it turned out though, there was a hitch. Businessman Joseph Aramanda, testifying under a letter of immunity, said Springfield lobbyist and onetime National Republican Committeeman Bob Kjellander was “very receptive,” to loaning him the money so Aramanda could build up his pizza franchises. Prosecutors appear to be trying to link money that was in Aramanda’s account to earlier testimony, which indicated that more than half a million dollars was routed through...

Meet your worst nightmare: a Wall Streeter who got paid millions to work at investment banks while he was stealing money from innocent investors and his company. Justin Paperny, a 36-year old who lived the Wall Street dream until a few years ago, tells a shocking tale of greed and sociopathy to Cincinatti.com. Paperny looks like the hundreds of thousands of well-bred youngsters who go to work on Wall Street every year. He grew up wealthy in a suburb outside of LA, went to college at USC, and went to work on Wall Street. He was paid $200,000 his first...

I'm looking for a video clip of Thaddeus McCotter (R-MI) recalling the meeting with the Bush officials where the congressmen were basically told that the system was melting down and that we had days if not hours to save the system from a total collapse. Can anyone help?

I came across this video about the downfall of Bear Sterns. It may need a little work but he seems to be on the right trail. At the end he mentions micheal moore (grrrrr) will be doing a movie about the downfall of Bear Sterns. http://www.investorvillage.com/smbd.asp?mb=3532&mn=33302&pt=msg&mid=6892335

Fed Made $30 Billion Deal to Manage Assets of the Collapsed Bear Sterns Top government officials are refusing to provide details on a secretive deal it made to manage billions in assets from an earlier bailout. Sen. Charles Grassley, R-Iowa, has been pressing top officials for months to provide details on a deal the Federal Reserve made for a private firm to manage $30 billion in financial assets from the collapsed investment bank Bear Stearns, as part of an arrangement to facilitate J.P. Morgan Chase's purchase of the bank in March. The Federal Reserve announced at the time that it...

After a one-day reprieve from total meltdown in the financial markets, news media cheerleaders for the most reckless gang of bankers in world history declared the crisis over on Good Friday (with the markets safely closed). Whew, that's a relief. Problem solved. And just in time for baseball season, too, so none of the Banker Boyz have to sell their sky box leases. Commodities Drop, Rally in Dollar, Stocks Vindicate Bernanke What is meant by "meltdown," by the way, since the word is used so promiscuously by myself and others. I'd define it as the shock of recognition that many...

Hello, Hillary? Hate to wake you, but it's 3 o'clock in the morning, and we have a real crisis. It's your campaign, senator. It's Hail Mary time. You've lost the bid for a revote in Florida and, it seems, in Michigan, which means your prospects for prevailing over Barack Obama in the primary popular vote by June are vanishing fast. The Illinois senator, meanwhile, has just delivered a JFK-like speech on race in America--a savvy move that may well have stanched the hemorrhaging of his campaign over the controversial remarks made by his pastor, Jeremiah Wright. The mood could be...

BEIJING — A state-owned Chinese financial firm wants to change its deal to buy into Bear Stearns Co. following the takeover of the troubled Wall Street bank, the chairman of the Chinese firm's parent said Monday. Citic Securities Co. wants to make a "technical adjustment" in its deal, said Kong Dan, chairman of Citic Group, talking to reporters during a meeting of China's legislature. He gave no details but denied an earlier media report that quoted him as saying the deal was canceled. Citic agreed in October to invest $1 billion in Bear. The U.S. firm was to make a...