Skip to comments.March 4, 2010: Who's Really Behind the Financial Crisis?
Posted on 11/13/2010 5:22:39 PM PST by bronxvilleEdited on 11/13/2010 6:33:57 PM PST by Admin Moderator. [history]
The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole.
(Excerpt) Read more at expertclick.com ...
It won’t matter. He has sons and daughters or daughters-in-law who are already really running things.
All of the hedge funds work together. All of the enviro groups work together. All the state-controlled media groups work together.
They are flipping out over the Tea Party because, for a change, the plebes have begun working together.
“It wont matter. He has sons and daughters or daughters-in-law who are already really running things.”
Hu Jintao is considered the most powerful man on Earth now, and King Faisal 3rd.
If Soros & the Hedge mercs & globalists/Gore/Reid/Pelosi types bring the US down, Saudi & the ChiComs are next. I don’t think they’ll take well to these tactics, from Soros, his minions, children or partners in treachery.
Besides, Soros is an American citizen. He is also engaging in practices worthy of multiple RICO lawsuits, class-action suits and other sundry felony counts.
Well,it matters to me.Just like Ted Kennedy,some people need to meet their maker.
This is an EXCELLENT explanation of what happened -
Many don’t believe it was the Glass-Steagal repeal, written and proposed by the Repubs and signed into law by Clinton only after the repubs gave him and the left carte blanche with the Community Reinvestment Act. I believe BOTH were the beginning of our downfall. Both parties worked together against us. Read up on Citicorp Ruben. Gore, Udalls etc who piled millions into the EPA etc. How they’re so lauded today is beyond me.
The Clinton administration was one of our worst admins. Carter started the CRA but the Clintons took it to a whole other level along with the EPA and Education Dept - the latter was given to us by Carter. When the Clintons got the banks well...
Oh, I actually agree with Farmer Dean. It would be satisfying to see the end of Soros. But, realistically, as one of the *owners* of this world, he has set up his dynasty and it will continue on.
It isn’t just about money, or even power, IMO. It is about intricate networks that function even if one or more of the chief perpetrators are gone. They get their own in the oversight positions, so, actually, they are immune from prosecution.
I think many people knew about Soros and his cronies a long time ago. He is the model for all the Dr. Evil characters. He probably gets a kick out of that.
Meanwhile, the SEC extends the compliance date for the new short sale rule by more than three months.
Obama tried to get Asian countries to change accounting to mark to market. Peter Schoonheim says the International Bank of Settlements of Basel (which Soros led at one time) told Congress to switch to the new accounting, FASB 157, back in 2007 and this led to the market meltdown and eventually leads to total transfer of ownership and control of capital, production, etc to the government.
Thanks. Do you have a link?
On December 30, 2008, the SEC delivered its report to Congress recommending against the suspension of fair value accounting standards and concluding that SFAS 157 was not the cause of the recent bank failures. The SEC’s report includes an overall analysis of fair value accounting including mark-to-market accounting and SFAS 157 as subsets of fair value accounting.
This article briefly summarizes SFAS 157 and the current positions of the FASB and SEC.
In Canada, the Canada I grew up in, there was a Glass-Steagal-like provision that split financial services into four sectors. Any firm that wanted to conduct business had to stick to one of the four; no cross-ownership was allowed. The four sectors were: banks, trust companies (basically S & Ls), brokerage services and insurance. They used to be known as the "Four Pillars."
The Government of Canada allowed some cross-ownership starting in late 1987, and allowed complete cross-ownership in late 1991. Since then, Canadian banks have been permitted to own any financial institution they want.
Canada's financial-services sector was one of the few to get through the crisis of '08 largely unscathed - bloodied, yes, but unscathed. As for previous meltdowns, the same.
In order to claim that the repeal of the cross-ownership restrictions of Glass-Steagall was the major causative force, the difference between the American and Canadian experience has to be explained too. The CRA growing teeth might suffice.
(If anyone's interested, this master's thesis goes into the Canadian experience of cross-ownership deregulation.)
No problem - I enjoy input. You’ve given me info to read and reflect. The repeal of Glass-Steagal and the consequences just might have been a coincidence or added to... Will keep for a read later. Thanks. :)
It is on rightsidenews.com Sunday Oct 17, 2010.
Sorry, I forgot how to post a link.
I failed to place a dash (-) between “and-economics.”
The conclusion of the article says the boom would have continued had FASB 115 “hold to maturity” in the Private sector been left in place, while the government retains the right to value and write up Private Sector assets it refinances and acquires on a “hold to maturity” basis. The political intent was to shift control and ownership of capital to the elite and their chosen.
Do you remember the closed session of Congress on Mar. 12, 2008? I found two reports of what was said about the coming economic collapse, etc. etc. It was said that Bush/Paulson wrote a plan for that eventuality, which occurred in October, I believe. I wonder how involved was Soros or Kissinger or Brzezinski or Rockefeller? One of the reports on the closed session was by Gold and Silver Exchange. I forgot the other. (Just for your info.)