Market Crash Should be Investigated
Almost two years after the
mortgage crisis and stock market crash, no one seems to wonder about the
"September surprise" that shifted the 2008 presidential election to an
unknown leftist politician who had been elected to the Senate only two years
before. A pulp-fiction writer could hardly have created a more contrived and
bizarre story. But this was not make-believe. No, it is now our own gritty
reality show that we only wish we could turn off.
of Sept. 15, 2008, was a debacle of huge proportions. On Monday, Lehman
Brothers filed for bankruptcy while other lending institutions lined up like
dominoes teetering on the edge of bankruptcy. But the week was hardly over.
On Thursday, an
electronic run on the banks occurred. In an unprecedented move, the Treasury
and the Federal Reserve had to act together to stop what had become a
full-fledged panic. On Saturday, Sept. 20, The Wall Street Journal recounted
events of that previous Thursday:
lining up at bank windows, investors were unloading financial assets on
their PCs. Credit markets had seized up, to the point that even routine
daily settlements had stopped until banks had the actual securities or cash
were rushing out of these [Treasury and Federal Reserve] funds -- $105
billion out of $1.8 trillion on Thursday alone -- which in turn caused the
funds to redeem their commercial paper investments.”
that paper then had to find new funders, which in a pinch are banks. But
jittery banks were refusing to accept paper from even worthy companies amid
the panic, creating a larger credit breakdown. In response, Treasury will
now insure nonbank money-market fund deposits for the next year, to slow
For such a
large and coordinated exodus of funds to occur in U.S. markets, something
more than individual “investors” at their PCs had to be in play. Large and
well-managed hedge and mutual funds were undoubtedly behind much of the
months later on a
C-Span interview, Rep. Paul Kanjorski, House Capital Markets
Subcommittee Chair, described that day:
Thursday at about 11 o'clock in the morning the Federal Reserve noticed a
tremendous drawdown of money market accounts in the United States, to the
tune of $550 billion was being drawn out in a matter of an hour or two. The
Treasury opened up its window to help. It pumped $105 billion in the system
and quickly realized that they could not stem the tide; we were having an
electronic run on the banks. They decided to close the operation, close down
the money accounts and announce a guarantee of $250,000 per account so there
wouldn't be further panic out there.”
Billion withdrawn in an hour or two that Rep. Kanjorski refers to in his
statement has never been independently confirmed or refuted.
mid-September, John McCain was ahead of Barack Obama in some polls by about
3 percent. By Oct. 10, the S&P 500 Index had lost 25% of its value from what
it had been a month before. The crash was a major calamity for the McCain
Campaign. And now, with Obama in the White House, it has become a calamity
for us all.
remains that the identities of those who withdrew their money that week were
never disclosed. And, knowingly or not, they created a panic that altered
the course of the election. One can only wonder whether something more than
normal market forces was at work.
of Barney Frank and Chris Dodd, the crisis came about by the uncertain value
of subprime securities held by Fannie Mae, Freddie Mac, banks, saving and
loans, and other lending institutions. A declining market in itself is not
noteworthy, but to induce a panic in the midst of a presidential campaign,
if ever proven, would be reprehensible and an outrage to the American
the stock market collapse was a disaster for your average IRA or 401(k)
account, some investors benefited handsomely. It is widely agreed that hedge
funds profited by selling short the collapsing market in 2008, and chief
among them was George Soros’ hedge fund. Soros may have personally had the
motivation, method, and opportunity to trigger the crash.
overseas-based hedge fund evades much scrutiny, and its activities that week
left almost no trail. Could Soros and his hedge fund be behind many of the
withdrawals of that week, and particularly on that Thursday? We need to
know. The massive outflow of U.S. funds to offshore accounts that critical
week during the campaign could be a coincidence, but it is doubtful.
Soros is a multi-billionaire answerable to no one. Hastening a market
meltdown to give the election to Barack Obama would fit his pattern of
profiting while destroying the social order of his target country.
Triggering a crash in 2008 would also serve his political investments.
obsessed with power. He wants a One World Government, redistribution of
wealth, open borders, and universal health care. He is determined to change
America forever by deconstructing its sovereignty and ability to defend
itself. Soros was a huge backer of Barack Obama, and now his anointed
president is determined to change America to their mutual view.
made his fortune by short selling currencies and then pouring substantial
amounts of his private wealth into organizations to subvert various nations.
He nearly bankrupted the Bank of England by shorting the pound in 1992. He
wrecked the Malaysian economy in 1998, and subsequently that of Indonesia as
well. He is responsible for stirring-up instability in Africa, the Balkans,
Eastern Europe, and the former Soviet republics.
years, Soros has positioned himself to take control of the Democrat Party
through the hundreds of 527 organizations he has helped financed. These
organizations have become a
"Shadow Party" unto
themselves, and manipulate public opinion for their own end.
them: the National Education Association, ACORN, AFL-CIO, American
Federation of Teachers, The Media Fund, the Open Society Institute, Planned
Parenthood League, the Sierra Club, America Coming Together, the Huffington
Post, Moveon.org. If a left-wing organization is in the news, it has
probably received money from George Soros.
the identities never been reported of those who withdrew funds that week?
Shouldn't there be even some curiosity about an event that wiped out the
jobs and life savings of so many people? And why has there been no follow-up
inquiry by into Rep.
There needs to be a public investigation concerning the amounts and offshore
destinations of the funds withdrawn from U.S. markets that precipitated the
unwritten partnership exist between George Soros and Barack Obama? Could
Soros, through Obama, be seeking a "velvet revolution" in the dismantling of
our nation as he has done elsewhere? These questions need further
investigation. With the Alinskyite tactics employed by Team Obama, none of
this is beyond the realm of possibility.
Americans recoil at the thought of having their elections manipulated by
outsiders. As long as Democrats control Congress, there surely will never be
an effective inquiry into this affair. Perhaps a GOP victory this November
will allow a thorough examination finally to begin. Add this to the many
investigations the GOP will need to make when they finally take back