This Great Recession was caused by a Bank Panic
March 2nd, 2010|
I recall in the summer of 2008, Sen. Schumer was criticized for singlehandedly causing panic which resulted in a run on a single bank! The financial community said this institution’s financial problem could have been resolved, except that the politically instilled crisis caused a panic which led to it’s collapse. (http://archive.redstate.com/stories/archived/breaking_bank_collapses_feds_cite_s en_chuck_schumer_as_immediate_cause_of_collapse)
Emerging evidence now seems to indicate that the severity of the mortgage crisis which ultimately led to this Great Recession, was not the risky sub-prime mortgages, as much as it was a BANK PANIC, which was created by our Congress on the eve of a National Election. If true, this would not only be the greatest “October Surprize” of all our our nation’s history, it may be the basis for a RICO investigation of violation of our laws. If true, such an assault on our nation’s economy, at a time we are at war, could also be construed as an act of Treason, created by an organized cabal of Traitors! —————————————————————————————————- ” It Wasn’t a Mortgage Recession After All: So Why Don’t We Feel Better? ”
” The Great Recession wasn’t the result of subprime mortgage madness, according to a new report from the National Bureau of Economic Research. It was just a plain old bank panic. Yeah, but weren’t bank panics supposed to be a thing of the past, thanks to the creation of the Federal Deposit Insurance Corporation in 1934? ” http://www.housingwatch.com/2010/02/26/it-wasnt-a-mortgage-recession-after-all-s o-why-dont-we-feel-b/?icid=main|htmlws-main-w|dl1|link3|http%3A%2F%2Fwww.housingwatch.com%2F2010%2F02%2F26%2Fit-wasnt-a-mortgage-recession-after-all-so-why-dont-we-feel-b%2F |
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