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Financial Terrorism Suspected in 2008 Economic Crash Pentagon study sees element
The Washington Times ^ | February 28, 2011 | Bill Gertz

Posted on 03/01/2011 7:32:45 PM PST by khnyny

Evidence outlined in a Pentagon contractor report suggests that financial subversion carried out by unknown parties, such as terrorists or hostile nations, contributed to the 2008 economic crash by covertly using vulnerabilities in the U.S. financial system.

The unclassified 2009 report “Economic Warfare: Risks and Responses” by financial analyst Kevin D. Freeman, a copy of which was obtained by The Washington Times, states that “a three-phased attack was planned and is in the process against the United States economy.”

While economic analysts and a final report from the federal government's Financial Crisis Inquiry Commission blame the crash on such economic factors as high-risk mortgage lending practices and poor federal regulation and supervision, the Pentagon contractor adds a new element: “outside forces,” a factor the commission did not examine.

“There is sufficient justification to question whether outside forces triggered, capitalized upon or magnified the economic difficulties of 2008,” the report says, explaining that those domestic economic factors would have caused a “normal downturn” but not the “near collapse” of the global economic system that took place.

Suspects include financial enemies in Middle Eastern states, Islamic terrorists, hostile members of the Chinese military, or government and organized crime groups in Russia, Venezuela or Iran. Chinese military officials publicly have suggested using economic warfare against the U.S.

In an interview with The Times, Mr. Freeman said his report provided enough theoretical evidence for an economic warfare attack that further forensic study was warranted.

“The new battle space is the economy,” he said. “We spend hundreds of billions of dollars on weapons systems each year. But a relatively small amount of money focused against our financial markets through leveraged derivatives or cyber efforts can result in trillions of dollars in losses. And, the perpetrators can remain undiscovered.

“This is the equivalent of box cutters...

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; News/Current Events
KEYWORDS: 2008; attack; business; china; economicattack; economy; financialattack; georgesoros; islam; meltdown; russia; soros; wot
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1 posted on 03/01/2011 7:32:51 PM PST by khnyny
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To: Toddsterpatriot; Mase; expat_panama

ping


2 posted on 03/01/2011 7:36:46 PM PST by 1rudeboy
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To: khnyny

What was the story behind the 1000 point fall aka flash crash


3 posted on 03/01/2011 7:37:08 PM PST by al baby (Hi Mom!!! <sarc>)
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To: khnyny
I believe the financial terrorism was
implemented by Barney Frank and Chris Dodd
with the help of the entire democrat party.

4 posted on 03/01/2011 7:37:14 PM PST by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your law is my delight.)
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To: khnyny

Can we all say duh?

It only took ‘em 3 years to get it?

Retards.


5 posted on 03/01/2011 7:40:33 PM PST by yldstrk (My heroes have always been cowboys)
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To: khnyny

The issues is also discussed on another thread:

http://www.freerepublic.com/focus/f-news/2682067/posts


6 posted on 03/01/2011 7:41:17 PM PST by TopQuark
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To: khnyny


TERRORIST
7 posted on 03/01/2011 7:42:50 PM PST by wolfpat (Veni. Vidi. Veneer: I came. I saw. I made plywood.)
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To: khnyny
Don't dismiss the possibility of disinformation, here.

If the "terrorists" did it, then Bawney Fwank, Obama, DemoRats, and Federal home lending requirements are all innocent!

8 posted on 03/01/2011 7:43:34 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: khnyny

If true, this would let Obama off the hook, maybe even let Bush off the hook?


9 posted on 03/01/2011 7:44:15 PM PST by decisis
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To: khnyny

"Oops"

Best RATs and RINOs money could buy.

 

10 posted on 03/01/2011 7:47:04 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: Navy Patriot

They were clearly in on on it also, Marxism knows no borders. Frank and the others take their orders from Moscow and Bejing not from the American tax payer.


11 posted on 03/01/2011 7:48:54 PM PST by USSR Didnt Fall
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To: decisis
If true, this would let Obama off the hook, maybe even let Bush off the hook?

I don't think so. Both of the Ass-Clowns In Chief" responses made it worse than it had to be.

12 posted on 03/01/2011 7:49:44 PM PST by Drill Thrawl (I don't prep for the disaster. I prep for the rebuilding.)
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To: khnyny

heck, didn’t paulson write that he had been told by china that russia asked them to collude in collapsing the agency debt market in mid-2008, but they declined?

There were real structural weaknesses in the financial system, but it is a no-brainer that nation-states participated in the mess. Russia is on top of the suspect list.


13 posted on 03/01/2011 7:51:15 PM PST by WoofDog123
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To: Navy Patriot
Excellent point. Imho, most events are what I call multi-causal. IOW, there are several competing factors which result in the same outcome.

I'm looking forward to watching “Inside Job” by Charles Ferguson. I've personally come to the conclusion that Wall Street, much of our government and most of the big banks are nothing more than parasitic ticks which suck the blood off of their “customers” and “constituents”. Their own survival and greed is paramount - the so-called “strong” feeding off of the weak so to speak.

14 posted on 03/01/2011 7:56:46 PM PST by khnyny (What exactly is a CDO??)
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To: wolfpat

Bin Ladin!


15 posted on 03/01/2011 8:00:41 PM PST by griswold3 (Second law of thermodynamics. Are we there yet?)
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To: WoofDog123
[There were real structural weaknesses in the financial system]
 
Uhuh.  The systemically corrupt nature of which being a deliberate consequence of.....
 
"...What it basically means is: to change the perception of reality of every American that despite of the abundance of information no one is able to come to sensible conclusions in the interest of defending themselves, their families, their community, and their country.
 
It's a great brainwashing process which goes very slow and is divided into four basic stages.
 
The first stage being "demoralization"...."
 
---KGB Defector Yuri Bezmenov
http://www.freerepublic.com/focus/news/2095202/posts
 
 

"We haven't CHANGEd the mortgage industry, we've REVOLUTIONized it."


16 posted on 03/01/2011 8:09:40 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: WoofDog123

It’s a no brainer that’s apparently been studiously ignored - at least publicly.


17 posted on 03/01/2011 8:10:12 PM PST by khnyny (What exactly is a CDO??)
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To: khnyny

Bit late for that.

And I doubt the bankers want to make things that secure.


18 posted on 03/01/2011 8:13:01 PM PST by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: khnyny
The movie “Inside Job” picks up the plot (or narrative) just after all the force of law Federal regulations were put into effect, and none of this is mentioned.

Then Ferguson makes case that banks made risky loans and quickly sold the near worthless paper to unsuspecting outsiders.

It's true, but why would established banks suddenly start to do this after decades of successful ongoing conservative management? Well now yer askin' too many questions, see!

19 posted on 03/01/2011 8:16:03 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: khnyny

2008 economic crash bump for later......


20 posted on 03/01/2011 8:31:22 PM PST by indthkr
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To: Navy Patriot
[Then Ferguson makes case that banks ]
 
But Roland "The Godfather of Subprime" Arnall's pirate flagship - Argent Mortgage / Ameriquest, wasn't a bank.
 

 
Banks have holdings from depositors to whom they owe a fiduciary responsibility.
 
The predators in the Shadow Banking system had neither deposits nor fiduciary responsibility.   They just had a technological firehouse they shoved up the backside of the financial industry; with which they gave the American people an a$$paper cashenima.
 
 

21 posted on 03/01/2011 8:32:28 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: yldstrk

Amazing!!! What a bunch of idiots! Anyone with an ounce of brain matter could see this!


22 posted on 03/01/2011 8:34:12 PM PST by antceecee (Bless us Father.. have mercy on us and protect us from evil.)
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To: Navy Patriot

The repeal in 1999 of the Glass-Steagall act.


23 posted on 03/01/2011 8:37:54 PM PST by khnyny (What exactly is a CDO??)
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To: yldstrk

Yeah, pretty obvious. Also obvious (to me anyway) was one of their goals of the crash was to also get their marxist muslem toad Obama into power. Then they could REALLY bring down the U.S. economy, and the Nation with it. And it is working.


24 posted on 03/01/2011 8:38:23 PM PST by 21twelve ( You can go from boom to bust, from dreams to a bowl of dust ... another lost generation.)
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To: khnyny
[I've personally come to the conclusion that Wall Street, much of our government and most of the big banks are nothing more than parasitic ticks which suck the blood off of their “customers” and “constituents”. ]

Meet the New Boss, Same as the Old Ba'al
--The Who?

Ba'al being a Hebrew word for owner, lord, possessor, MASTER --- Typically manifested throughout history via the merger of commerce, government, and religion - rendering a state of affairs where:

"COMMERCE BETWEEN MASTER AND SLAVE IS DESPOTISM"
--Thomas Jefferson

Sort of kike that time back when.... 

"Gee, Moses has been up on that hill an awful long time - he and his God must be dead; so hey, let's just throw all our gold into the fire and then worship what comes out!"

 

That was a "Ba'al out" too, get it?  {Badumpump}

25 posted on 03/01/2011 8:46:17 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: khnyny
Alan Greenspan --- "Rethinking Glass-Steagall"
"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"

Rules?  We don't need no stinking rules!

 

 

 

26 posted on 03/01/2011 8:55:35 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: LomanBill
You are certainly correct, shadow banks, banks, real estate appraisers, and brokers all acted illegally. Some ethical banks, when extorted by Greenline and the Feds, did not stoop to out cheating the cheaters. Those banks, removed themselves from the home mortgage market, defeating the Marxists and remaining ethical.

The purpose of my post on this thread is to prevent misdirection of attention away from the Federal government, DemoRats and RINOs who are the primary cause that this could occur.

27 posted on 03/01/2011 8:55:35 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: khnyny
The repeal in 1999 of the Glass-Steagall act.

Yep, that was the removal of the good working regulations.

28 posted on 03/01/2011 8:59:08 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: khnyny

There is only one real suspect...George Soros!

And it helped him get his Commie into the White House!


29 posted on 03/01/2011 9:08:30 PM PST by Stayfree (Find out the truth at RewardForObamasBirthCertificate.com!)
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To: khnyny
The NSA should pay Tom Clancy large sums of money to NOT publish novels.

Debt of Honor was about flying a commercial passenger plane into Congress, and as a subplot, electronically sabotaging our financial markets.

His novels are primers for bad guys. And our guys are idiots if they aren't reading his stuff.

30 posted on 03/01/2011 9:21:45 PM PST by Tex-Con-Man
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To: wolfpat

That creature is completely demonic. Straight from the pit of hell.


31 posted on 03/01/2011 9:23:02 PM PST by ottbmare (off-the-track Thoroughbred mare)
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To: khnyny
The Greenlining Institute took the Community Reinvestment Act and a bunch of Marxist DemoRats and extorted risky loans for unqualified buyers from banks.

Without this action the housing price bubble would not have been so big, and banks would not have been tempted to go outside the law.

32 posted on 03/01/2011 9:26:10 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: Navy Patriot
 [Those banks, removed themselves from the home mortgage market, defeating the Marxists and remaining ethical.]

That's right, and some of those honest banks are still in business - still resisting the efforts of select jackwagons on Capital Hill, like Dick Durbin, to effect otherwise.

It's economic warfare alright - but we need look no further than Chicago for the usual school of suspect, criminally minded, punks.

Exhibit A: 

Penny Pritzker - National Finance Chairwoman for the Obama campaign - whose Chicago family-owned Superior Bank FAILED in 2001 from the effects of its pioneering efforts in the Sub-prime finance debacle.


33 posted on 03/01/2011 9:28:19 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: LomanBill

How could someone’s bank fail in 2001 fro the “Sub-Prime Debacle” which wouldn’t occur until 2007-8?


34 posted on 03/01/2011 9:35:03 PM PST by REDWOOD99
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To: LomanBill
we need look no further than Chicago for the usual school of suspects

Yep, thanks for the reminder, Penny and the rest of Obama's campaign women had slipped my mind.

35 posted on 03/01/2011 9:42:40 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: REDWOOD99
The Community Reinvestment Act went into effect in 1978, and was the Fed law used to go out on a limb. Penny's bank did it voluntarily, the Marxists don't have to be forced to steal other peoples money. They get ahead of the curve.
36 posted on 03/01/2011 9:47:42 PM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: REDWOOD99
[How could someone’s bank fail in 2001 fro the “Sub-Prime Debacle” which wouldn’t occur until 2007-8?]

"Superior, co-owned by Pritzker family trusts, began focusing on subprime loans in 1993,"

Evidently growing ACORNs in a$$paper produces the same putrid fruit regardless of the vintage

37 posted on 03/01/2011 10:00:12 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: khnyny

Interesting story I’d be interested in giving more consideration to if only author had linked the actual Pentagon report being cited.


38 posted on 03/01/2011 10:20:33 PM PST by fso301
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To: Navy Patriot

[but why would established banks suddenly start to do this]

Wasn’t that because George Bailey jumped off the bridge and there was no one to stop Mr. Potter from turning the whole town into Pottersville?

Or maybe it was because they didn’t have a vested interest in the communities they were raping?

As one “manager” of application support at Argent Mortgage explained it to me - “We’re not predators - Those people are uneducated, ignorant, and stupid - so they DESERVE to be taken advantage of” (right Dave?).

Can you imagine cashing a check at a bank whose tellers were indoctrinated with such an attitude - and so shortchanged folks because, well “our customers are stupid”?

Me neither.

Where’s LEO?


39 posted on 03/01/2011 10:21:22 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: Navy Patriot
If the "terrorists" did it, then Bawney Fwank, Obama, DemoRats, and Federal home lending requirements are all innocent!

Let's not go silly.
This report does not nullify any previous findings. It simply identifies a suspected new significant and as yet unidentified player.

"Nothing to see here?"

Again?

40 posted on 03/01/2011 10:34:58 PM PST by Publius6961 (There has Never been a "Tax On The Rich" that has not reached the middle class)
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To: Navy Patriot

[who are the primary cause that this could occur.]

Human nature - predictable and exploitable human nature - is the cause that this could occur.

Thus:

"TO SECURE THESE RIGHTS, governments are instituted among men"


A Republic is a system, of governance characterized by the Rule of Law.  When the Law fails, the Republic fails --- and if the American Republic fails then government Of, By, and For the People - fails.

FReepers know that kind of failure is simply not acceptable.


41 posted on 03/01/2011 10:42:09 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: khnyny

Guess they finally read my favorite blog.


42 posted on 03/01/2011 10:47:03 PM PST by the invisib1e hand (Every knife in my back pushes me forward.)
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To: Publius6961; Navy Patriot
>>"Nothing to see here?"
 
Plenty to see. HERE.
 
Start prosecuting, HERE, and follow the money - instead of being suckered into chasing ghosts, tit for tat, across some foreign countryside again.

43 posted on 03/01/2011 10:53:30 PM PST by LomanBill (Animals! The DemocRats blew up the windmill with an Acorn!)
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To: khnyny

I’ll take Russian Mob for 1000, Alex.


44 posted on 03/01/2011 11:14:11 PM PST by happygrl
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To: khnyny

bttt


45 posted on 03/02/2011 4:09:31 AM PST by steelyourfaith ("Eternal vigilance is the price of liberty." -- Wendell Phillips)
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To: khnyny

ping


46 posted on 03/02/2011 4:13:49 AM PST by jmcenanly ( "We pay a person the compliment of acknowledging his superiority whenever we lie to him." -Samuel)
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To: 1rudeboy
Ah yes, our favorite national pastime --blaming problems on evil foreign conspiracies.  OK, so it's true that America's got enemies doing this kind of stuff, but that's not the point. 

First, what happened in '08 had a lot of other causes besides the Chicoms, mortgages, corporate greed --even today's IBD was blaming it on oil.   The thing is that all of these factors came into play and all were building up for years beforehand. 

Second, America has enemies, it always has and it always will.  This is nothing new and what's great about US prosperity is the fact that it exists in spite of evil foreign conspiracies.

47 posted on 03/02/2011 4:31:32 AM PST by expat_panama
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To: LomanBill

Ah yes, the rule of law. Curiously absent in our country in a lot of instances, especially during the financial meltdown.

Human nature is right on the money too (no pun intended) - it’s amazing what most people will do for a little power and a little money. Even so-called good people’s principles fly right out the window.


48 posted on 03/02/2011 4:45:14 AM PST by khnyny (What exactly is a CDO??)
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To: LomanBill
Human nature - predictable and exploitable human nature

Certainly you are correct.

However, the same human nature was inherent in Americans before the misbehavior, and did not occur in housing until the leftist/Federal enforcement of CRI without regulatory oversight.

That act effectively punished responsible banks for responsible lending practices, and rewarded irresponsible individuals, speculators and manipulative associated organizations.

Overall, human nature is responsible, and the rule of law is the best control of the bad parts of human nature. I was addressing this particular housing/banking fiasco, and the primary cause, which was to flip the rule of law to enforce the irresponsible and punish the conservative. Without that action none of this would have happened.

49 posted on 03/02/2011 9:20:59 AM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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To: Publius6961
We should not divert attention and blame from the socialist left, DemoRats and Federal bureaucrats involved.

They are absolutely guilty beyond doubt.

Additional bad guys, opportunists, and players are likely to be involved and we can give them attention after the Rats are in prison.

50 posted on 03/02/2011 9:34:42 AM PST by Navy Patriot (Sarah and the Conservatives will rock your world.)
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