Poor Wally's Almanac

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.

 
 
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!
 
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” 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? “

It Wasn’t a Mortgage Recession After All: So Why Don’t We Feel Better