Saturday, March 5, 2011

Crisis Manufactured?

March 05, 2011

Was the Economic Crisis Manufactured?

By Nancy Morgan

Now, a full two years later, the Pentagon has issued a report on the series of events that led to the 2008 economic crash. Bill Gertz writes in the Washington Times:

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

"There is sufficient justification to question whether outside forces triggered, capitalized upon or magnified the economic difficulties of 2008," the report says.
"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." 
July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank. *

* Six months later, Jan 2, 2009, a seven-member group of investors agreed to buy the remnants of failed lender IndyMac for $13.9 billion. Other investors included a fund controlled by billionaire George Soros' Fund Management.

Sept. 6, 2008: Fannie Mae begins its downward 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.
KN: Schumer & Soros............???
OK, all you naive leftheads think it couldn't happen. 
You better check the history of Soros.  


Golf is Back! Obama’s 60th Outing as President

by Keith Koffler on March 5, 2011, 2:26 pm
Well, the mercury has crept back up above 60 degrees here in Washington, and so it’s time once again for President Obama to head out to the golf course.
This is the president’s 60th time golfing as president, meaning Obama has spent two months of his presidency on the golf course.
The rounds usually take about five hours, including motorcading back an forth to the course.
According to statistics compiled by CBS News White House correspondent Mark Knoller, who keeps close tabs on the president’s activities, Obama played 30 rounds in 2010, 28 rounds in 2009, and two this year, including today.
George W. Bush gave up golfing in 2003, explaining why he did it in a 2008 interview with POLITICO.
“I don’t want some mom whose son may have recently died to see the commander in chief playing golf,” he said. “I feel I owe it to the families to be in solidarity as best as I can with them. And I think playing golf during a war just sends the wrong signal.”
Some think Obama should follow Bush’s example. But Obama clearly is addicted to the game and probably feels he needs to play to get his mind off of Washington, generally choosing the company of young administration staffers instead of lawmakers or senior aides.

KN: Not a surprise. No morals at all.
I am sure the leftheads will  defend him, some moronic way.


Jobless Rate Plummets 1/10th Of 1%!

March 4th, 2011 From an ecstatic (albeit memory deficient) Associated Press:

Unemployment dips to 8.9 pct., 192K jobs added

By Jeannine Aversa, AP Economics Writer
February 4, 2011
WASHINGTON – Employers hired in February at the fastest pace in almost a year and the unemployment rate fell to 8.9 percent — a nearly two-year low.
The economy added 192,000 jobs last month, with factories, professional and business services, education and health care among those expanding employment…

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