In the second phase, untraceable investors attacked financial institutions such as Bear Stearns and Lehman Brothers in a 'bear raid'. The term refers to a strategy where investors try to force the value of companies down through malicious rumours or complex financial trades that impact its stock price.
Does anyone recall how Schmucky Schumer started the dominoes falling in the summer of '08? What does he know and who was he working with/for?
The U.S. economic crisis was precipitated in late June 2008 by Democrat Senator Chuck Schumer’s intentional leak of a memo questioning the solvency of IndyMac bank. The memo triggered a deposit run on IndyMac which led to its failure. The combination of IndyMac’s failure, Lehman Brothers collapse and Fannie Mae’s impending subprime mortgage crash effected a gathering storm in the markets until September 15th when, in a matter of hours, a colossal drawdown of money market accounts in the U.S. caused the disappearance of $550 billion from the American banking system. Rep. Paul Kanjorski of Pennsylvania stated if authorities had not closed the banks that day, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the U.S. Combined with mortgage industry failures, this electronic run on banks handed the Democrats in Congress the justification to utilize the panic for political benefit and initiate the nationalization of the banking and mortgage industries under the $700 billion Troubled Asset Relief Program (TARP.) This early October Surprise propelled Barack Obama into office and provided further ammunition for his administration’s deliberate takeover of the private market. As White House Chief of Staff Rahm Emanuel says,“Never let a serious crisis go to waste… it’s an opportunity to do things you couldn’t do before.”