Originally posted by Scriabin
I think it is a vast centrist conspiracy masterminded by Goldmann Sachs
Quick timeline. Tim Geithner as head of NY Fed argues for a Bear Sterns bailout. Because this is strictly outside of what the Fed can do they pass the money to Bear Stearns through **Hank Paulson's old company Goldman Sachs.
On the other hand Lehman Bros, Goldman Sachs competitor and rival which was much larger than Bear Sterns in terms of exposure and contagion effect is allowed to fail due to moral hazard reasoning. This lack of political will to shore up Lehman Bros is considered to be the pivotal point around which the NYSE really starts to tumble and crash. Freddy and Fanny later and then its apparent that AIG is too big to fail and is promptly bailed out. CEO Liddy just also happens to be a major stakeholder of Goldman Sachs. An administration change later and Hank Paulson steps down as Treasury Secretary only to have his new BFF Tim Geithner step into his seat.
**EDIT: errata Factually incorrect. I named the Feds conduit to Bear Sterns as being Goldman Sachs. It was in fact JP Morgan, for which Paulson had no connection. Also Paulson made the bailout of Bear Sterns very painful for any shareholder in the company. The company was sold for $2
Debate. Is there nothing that anyone can do anymore to stop elites from clearly manipulating the system for their own benefit.
Originally posted by kmax87not sure there is nothing -- but clearly Goldman Sachs is awesomely well connected on both sides of the political aisle.
Originally posted by Scriabin
[b]I think it is a vast centrist conspiracy masterminded by Goldmann Sachs
Quick timeline. Tim Geithner as head of NY Fed argues for a Bear Sterns bailout. Because this is strictly outside of what the Fed can do they pass the money to Bear Stearns through Hank Paulson's old company Goldman Sachs.
On the other ...[text shortened]... e can do anymore to stop elites from clearly manipulating the system for their own benefit.[/b][/b]
See John Stewart's opening bit on this on yesterday's Daily Show -- it is no big secret
Originally posted by ScriabinYeah it sort of prompted some of my post. In terms of the meltdown, I watched last Tueday night, on our public broadcaster, a program produced for PBS that aired on Frontline on the 17th Feb 2009.
not sure there is nothing -- but clearly Goldman Sachs is awesomely well connected on both sides of the political aisle.
See John Stewart's opening bit on this on yesterday's Daily Show -- it is no big secret
Called - Inside the Meltdown- it was written and directed by Michael Kirk and reported by Jim Gilmore.
It interviewed many of the players except for the principles Paulson, Bernanke, and Geithner. If the program and its analysis are spot on especially the private animus between Paulson and Fuld, then its a shocking indictment of my debate premise.
Last nights guest(for us in OZ at least) was Elizabeth Warren and her views as to when the boom bust cycles in the economy started to reassert themselves when oversight and legislation/regulations were pulled like threads out of the system and you have where we are right now with choices to go one of two ways. It made Jon feel good anyway.
Originally posted by kmax87**Errata, factually incorrect. I named the Feds conduit to Bear Sterns as being Goldman Sachs. It was in fact JP Morgan, for which Paulson had no connection. Also Paulson made the bailout of Bear Sterns very painful for any shareholder in the company. The company was sold for $2/share, which underlined Paulson's point that this sort of strategy (at least from Paulson's perspective) was not going to happen again.
Quick timeline. Tim Geithner as head of NY Fed argues for a Bear Sterns bailout. Because this is strictly outside of what the Fed can do they pass the money to Bear Stearns through **Hank Paulson's old company Goldman Sachs.
Infowars.com covers a lot of this. Alex Jones suggests that more people should become aware of the elites and what they have planned for us. If we all become aware I agree. So many people are caught up in the left right game they have set up for us that it is nearly imposible to see past it.