In the summer of 2008 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. From that point on, Obama took the lead and eventually won the presidency. 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. Notable for its absence is any suggestion that the economic events that arguably catapulted Obama into the White House may have originated in our own political system. Consider: The economic house of cards started tumbling on June 26, 2008, when Senator 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 environment that enabled Barack Obama to focus on the economy instead of his position on Iraq - and, not incidentally, resulted in his election as President. For the last two years, the media has neglected to connect the dots regarding the strange gyrations in our financial markets that started in the summer of 2008. After Schumer caused the run on IndyMac in June, the government moved in: 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. 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. This seminal event marked the ascendancy of Obama's candidacy, and arguably resulted in his election as president. Fast forward to February of 2009: The markets reacted to Obama's proposal to bail-out mortgages and Senator Christopher Dodd's talk of nationalizing banks by reaching 11-year lows. Obama continues to stoke the fears of imminent crisis, actually using the word 'crisis' a total of 26 times in one speech. Enter George Soros. The infamous one-worlder, billionaire George Soros adds his voice to the media doomsayers by opining that the world financial system has effectively disintegrated, adding that there is yet no prospect of near-term resolution to the crisis.* The series of 'inadvertent errors', deliberate obstruction, political shenanigans, behind the scenes manipulation of the money markets and non-stop calls for immediate infusions of taxpayer cash brought the U.S. to its knees by February 2009. And continues to this day.
I have some problems with this theory. For one thing, McCain and Obama were not virtually in a dead heat by late summer "08. Obama had a clear advantage. The idea that the Iraq war was a popular issue that McCain could exploit had also fallen flat by that point. The race actually tightened during the fall as the financial crisis unfolded. McCain faced a seminal moment when House Republicans bravely opposed the bailout package and looked to McCain for leadership. He dithered, then fell into line with the bailout chorus, effectively forfeiting 30 years of tough talk as an opponent of government waste. With no distance between him and Obama on what had become the crucial issue in the campaign, McCain faced an unwinnable personality contest with a guy the media were determined to see elected, no matter the damage he would do to the country.
The Pentagon report Gertz references is by Kevin Freeman who is an independent analyst, the report does not accuse Soros of any wrongdoing in the recent fiscal crisis but it does quote him. These internal and external scenario reports assist in strategy forming and war gaming. Read the original here:http://www.scribd.com/doc/49755779/Economic-Warfare-Risks-and-Responses-by-Kevin-D-Freeman
I seem to recall it a little differently. Maybe the same story from a different slant. McCain and Palin came out of the Republican Convention with the momentum and polls in mid-late September showed they had broken out to a small lead over Obama. As the financial mess unraveled and became a full blown crisis, Bush and the Republicans took the blame as the incumbent party and McCain had one chance to take leadership over the crisis and show that Obama was out of his league. McCain got Bush to call a summit with the candidates and the leaders in the Senate and Congress. However, Reid and Pelosi were able to cast McCain as part of the problem and McCain did nothing to assert himself into a leadership position on the crisis. He seemed totally clueless. Also, Bush did NOTHING to help McCain show credibility. That branded McCain as ineffective and part of the current establishment. Obama came out of that looking like the possible solution and the rest is history. McCain-Palin Take Lead http://www.huffingtonpost.com/2008/09/09/poll-madness-mccain-takes_n_125158.html
Obama did then what he continues to do now. he sits back does nothing and lets events play out, until the gulf oil crises explodes or until there will be WW 3. McCain had a chance to be President but he was too stupid to know that Paulson and Bush were so corrupt that the right answer was to be on the other side of those guys and their cronies. McCain's whole life of selling out his pretend values culminated in the selling out of his own value and his own life when the door to the presidency was wide open. and note the cynical man that I am does not believe, that he was truly a war hero. that man is too much of sell out to be a hero. he probably did something stupid to be shot down. I know that is harsh... but that guy is the most annoying jerk in Politics. How he gets t.v. time to play his I am too stupid to the statesmen act is beyond me. He makes chuck schumer seem like a watchable pleasant fellow. McCain... build fence stop immigration cut spending and make a tough decision once... I will change my mind. til then you are false conservative. 2. The financial crises occurred because China knew the Federal reserve would find a way to protect the 1.5 trillion in stupid loans it was making and that goldman sachs and that soros's buddies banks sov gen would be protected by paulson and the fed. when the cronies know there crazy investments are backstopped by the fed and the treasury... you will have a bubble and a crash.
The ''crisis'' was known months before the shit actually hit the fan. Get a hold of the BBC Documentary ''The Ascent of Money'' episode ''The Collapse of Lehman'' Governments of Britain , France , Germany were made known of the impending catastrophe frantic calls were made between the White House , Brown , Merkel and Sarkozy to try to figure out what could be done to avoid total shutdown When the White House decided that Obama and McCain were to be told , McCain said...(actual footage) '' I'm suspending my Presidential Campaign and taking Obama to the White House to sort out this financial mess'' oblivious to the depth of the problem. ''The problem was'' said the narrator was that ''Nobody had asked McCain'' Never the less , when the two arrived at the White House footage shows Paulson , Bush , Obama , McCain and a whole lot of other sombre looking politicians around a table. When they were told that the events about to unfold could very well cause the collapse of the Financial Systems of the entire World, there is this stunned eerie silence. Finally Obama asks what are our options...Government Bailout says Paulson. When McCain was asked if he would agree to a Government Bailout if he became President , he steadfastly refused to answer the question. Seconds later Bush , sensing the stalemate abruptly called off the meeting. Regarding the run off on the banks.....i will bet my last dollar it was the bankers , the insiders and politicians selling stock and withdrawing money. Was this some kind of conspiracy......? no self respecting American could believe that anyone could even dream up something of this magnitude , let alone pull it off.
I remember that differently, too. Instead we got Joe "The Gaff" Biden. "Chuck, stand up, let the people see you." oh oh You're in a wheel chair....
George Soros sabotaged the US economy? As the OP has amply demonstrated, morons will believe anything. As an aside, where does the Pentagon mention Soros's culpability in the economic meltdown? Such nonsense.