Posted on 07/15/2008 7:16:45 AM PDT by spacewarp
We have a crisis today....
Banking interests are collapsing. Housing markets are in the tank. Banks like IndyMac, Countrywide and others are having financial meltdowns.
Why is that?
Well, let's look at some of the factors involved.
Chuckie Schumer opened his big mouth. That lead to a panic that caused IndyMac to collapse. Now, would this have happened in a better market? Probably not. People would have laughed at BS CS.
So, how did we get to this point where a raging Senator with no sense could cause the collapse of a bank?
Let's do what is always required in these situations....
Let's follow the money.
On a related topic, Barak is involved in his own ring of trouble.
So, basically, we have two huge swirling messes out there. It's unknown how much impact these two connections will have on the upcoming race, but the Democratic Convention can't get here soon enough to seal the Democrats fate that Obama will be their loosing candidate.
Paul
“Banking interests are collapsing. Housing markets are in the tank. Banks like IndyMac, Countrywide and others are having financial meltdowns.”
It is my understanding that CFC countrywide no longer exists as a public company and in fact is wholly owned by BoA.
We are about to witness the Schumer Market Crash.....Thank you Charlie baby!
While he had to support Hillary because she represents NY, it is well known that Schumer hates Hillary because he loves attention and knows that her level of fame is well beyond his reach. Even if he wasn’t probably closet Obama from the beginning of the contest, it is ridiculous conspiracy theory talk that he would purposefully mess up a bank to undermine Obama. Schumer is powerful but not magical; he could not single-handedly take down a large financial institution.
Question about Chuckie: Is he doing this to help his friends and supporters take over banks by having the government take them over instead of these people putting enough capital together to buy them? Correct me if I’m wrong but aren’t some of Chuckie’s friends now running the banks that are being taken over by the gov? Namely IndyMac?
I know it’s a fantasy, but it would be so great if the stockholders sued him in Civil Court. Even if they didn’t win the discovery process would be fun.
susie
I think Chuckie only expedited matters?
I was on vacation for a week- what did Chuckie Schumer do this time?
Openly questioned the solvency of IndyMac bank and caused 1.3 billion of liquidity to storm out the door in a few days, causing the bank to collaps because of.....solvency issues.
How much stock did he sell short on that deal?
Paul
Loosing? Is that like Hugh! and Series?
I was on vacation for a week- what did Chuckie Schumer do this time?
The asshat started the run on IndyMac bank by saying it was in trouble. If the market crashes, I hope his name is tied to it forever....
Ooops. Losing candidate. Though, loosing as in, loosing their death grip on the American Landscape?
Paul
Lamp posts.
Lamp posts?
Yeah, lamp posts. My fantasy is commies dangling from lamp posts. The Mussolini treatment.
Ah!
The critical part is this: "Worried depositors in California lined up to withdraw their money, despite repeated assurances from federal regulators that all deposits up to $100,000 are safe." It's no longer a run on IndyMac; it's a run on the federal insurance fund itself. Evidently, many depositors don't believe their deposits are safe, and I don't believe it either.
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