Skip to comments.Paulson: Crazy Putin Pushed China To Dump Fannie Bonds And Crush The U.S. Financial System
Posted on 01/29/2010 3:22:36 PM PST by TigerLikesRooster
Paulson: Crazy Putin Pushed China To Dump Fannie Bonds And Crush The U.S. Financial System
Vincent Fernando | Jan. 29, 2010, 9:59 AM | 3,478 | comment 32
Tags: Economy, Markets, China, Credit Crisis, Politics
Some scary details have emerged from Hank Paulson's memoirs.
Allegedly, it appears Russia may have tried to conspire with China in a bid to collapse the U.S. financial system. They were hoping to sell Fannie and Freddie bonds during a time when the U.S. economy was on the ropes.
This happened back around the Beijing Olympics, when the U.S. was supporting Georgia against Russia in the conflict over Ossetia
(Excerpt) Read more at businessinsider.com ...
Paula son --> Paulson
If Paulson is saying it, it’s a lie.
What’s he saying anyway...ah it’s something that would get him off the hook. Imagine that.
Why is he crazy? Who in their right mind would do anything to help prop up the United States house of cards these days? Propping up this idiocy is crazy.
I believe every word makes sense to me...
There needs to be a buyer.
A dump means a seller, soon it will be apparent that it is the ChiComs. The Reds will lose a bundle to par, interest rates may rise for a short while then reverse.
In the scheme of things, the Communists don't own enough to cause a worldwide event.
Isn’t it George Soros who is trying to maneuver the collapse of the U.S. dollar?
I see no benefit to the public at large from having people pretend that financial assets are worth more than they are. If anything, keeping the market propped up serves to conceal any wrongdoing (and there's certainly been a fair amount of that) until crooks have a chance to get away with their ill-gotten gains.
In Davos he is tell those people that Obama has the right plan, he is going in the right direction. That plays into global governance which will never work here. They want to control the system. When Obama talks about regulation we say yes some are needed but where and why. He does not understand as you prevent profits from happening Banks from other countries have to take up the slack. profits go overseas. By our actions to put the blame it is BIG government will collapse the US dollar. when people have the right information they will do the right thing. Yes Soro could make a profit if the US dollar collapse, but that would bring down the EU. Why would he do that? That would be a good direct question about his profits and ours
"Russians made a top-level approach to the Chinese that together they might sell big chunks of their GSE holdings to force the U.S. to use its emergency authorities to prop up these companies".
It never happened - it didn't need to because Fanny and Freddie [GSE's] were insolvent and had to be bailed out without pressure from Russia, China or anyone else.
The reason that they were insolvent is that the Democrats, Frank, Waters, Schumer et al resisted Bush administration attempts reign in their sale of sub-primes with regulation.
There is a YouTube tape of a 2005 hearing where the Demos were saying that the GSE's were just fine, not in any trouble at all, that they should even up the pace of sub-prime sales. Probably scrubbed by now but it made the rounds around election time.
The secondary effect of this was the Banks had to find a way to unload all of this politically inspired crap debt. That Goldman Sachs was good at that is only a small part of the story.
I agree Paulson’s a liar and not to be trusted, but even Satan used scripture to lie.
No, this makes perfect sense. The bastard kept this information until he thought he could leverage some personal gain. Sell books, rebuild his image.
Thanks to Obama and Pelosi, the Russian-Chinese alliance will have even more leverage if they want to go for it in 2011 or 2012.
The Russians goal for 100 years has been to destroy our economy makes perfect sense that they wanted to destabilize our economy and look who we have as president now.
If it happened, I’m sure that Paulson privately alerted Goldman Sachs so they could increase their shorts.
Maybe Bernie Madoff could come up with a better story....
Invest now. Obama does not control the market
Me three. Bin Laden is a hologram used by Russia and our enemies in the ME to give them cover to do whatever the hell they want to do to us without fear of reprisal.
They, along with the fascist leftovers from Eastern Europe and the leadership in the ME absolutely hate us with a red hot passion. They hate us for WW2, supporting Afghanistan against Russia, missile shields, supporting Israel, you name it. They created Bin Laden and Al Qaeda as the throw down whipping boy when they want to hit us hard.
The Russian selloff may have been a trial balloon. Had it been felt that the US economy would have had a chance to completly collapse, the Chinese would have followed suit.
BTW the Russians hold about 200 billion of our national debt.
Remember what team Soros is really working for...
It is not America, not any “Orange Revolution”, not Europe. He is working for the SVR (KGB) and the GRU.
We will get even when we develop the stealth UAV. They can get a taste of what terrorism can be with a little technology thrown into the mix.
Thanks TigerLikesRooster. Yeah, it wasn’t Barney Freak, it was the damned Russians, of course.
Well they had motivation...that is for sure.
The infamous Sept 15 2008 550 billion dollar bank run?
Didn’t he already try to break the Bank of England by his dealings in silver?
We have a president who owes his soul to Soros. Our president is a puppet on Soros’ strings.
Make like a financial fig tree and leaf with lots of figures.
Ben Bernanke. Soros is just a businessman trying to make a profit from it.
Goldman Sachs was selling its own subprime paper. Investment banks were cranking out more subprime paper than the GSEs.