Difference between revisions of "Global Financial Crisis"

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{{Event
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#REDIRECT[[2008 Financial Crisis]]
|wikipedia=https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008
 
|image=Economic-death-squad-paulson-bernanke-geithner.jpg
 
|constitutes= financial fraud, banking crisis, bailout
 
|image_width=350px
 
|description="an evisceration of some banks by others...a cannibalistic binge billed to the [[tax-payer]]"<ref>https://web.archive.org/web/20100225033748/http://www.lewrockwell.com/rajiva/rajiva9.html</ref>
 
|start=2007
 
}}
 
The '''Global Financial Crisis''', also known as the '''2008 Financial Crisis''', was systemic event that shook the global [[financial system]] during the period from mid-[[2007]] to late-[[2008]].
 
 
 
Many financial institutions (including [[Goldman Sachs]], [[Bear Stearns]] & [[Lehman Brothers]]) that had been responsible for precipitating the crisis were labeled as "too big to fail" by Treasury Secretary [[Henry Paulson]]<ref>https://www.sfgate.com/news/article/Feds-take-control-of-Fannie-Mae-Freddie-Mac-3270123.php</ref> and were provided emergency funding in the [[Bailout|billions of dollars by American tax payers]] via the [[Emergency Economic Stabilization Act of 2008]].
 
 
 
This event saw the vertical integration of many financial institutions by [[JP Morgan Chase]] as many failing financial institutions were bought up by the company.<ref>https://www.usatoday.com/story/money/economy/2018/09/14/jamie-dimon-jp-morgan-memo-actions-financial-crisis/1304253002/</ref>
 
 
 
==Official narrative==
 
Oh, naughty [[Lehman Brothers]] - well that just shows that some banks are "too big to fail". Anyway, this whole thing is history - check the [[Wikipedia]] page title: 2007-2008(!) ... we are beyond it now ...
 
==Problems==
 
The "too big to fail" [[dogma]] was known to [[investment banker]]s and [[deep politician]]s before they cashed in on the concept <ref>
 
http://www.robinupton.com/people/WizardsOfMoney/
 
</ref>. In fact 2B2F was used to blackmail governments worldwide, because a meltdown of financial institutions would result in a global [[disaster]]. Coldblooded gambling with this [[racket]] is known as [[Moral hazard]] in financial theory.
 
 
 
==Catalyst==
 
[[image:Global Financial Crisis.jpg|right|thumb|450px|A trader has a bad day in 2007/8]]
 
The event is considered to have been caused primarily by the foreclosure of thousands of [[subprime mortgage loans]] due the aggressive predatory lending strategies of many financial institutions, including the government backed institutions [[Fannie Mae]] and [[Freddie Mac]]. This was coupled with the wide scale [[deregulation]] of so-called "derivative" financial instruments that were used by companies such as [[JP Morgan Chase]] to "bet" against the potential failure of mortgage assets that they deemed "likely to fail".<ref>https://www.thebalance.com/what-caused-2008-global-financial-crisis-3306176</ref><ref>https://www.latimes.com/business/la-fi-financial-crisis-timeline-20180909-htmlstory.html</ref> However, it must be pointed out, given the structure of the mortgages and lending practice, that it was almost a certainty from the beginning that wide-scale inability to pay will set in at some point (the question of intent arises).
 
 
 
At the peak of the crisis, from November to December of [[2008]], [[Bilderberger]] [[Robert Rubin]] pocketed $126 million in cash and stock options during his one month tenure at [[Citigroup]] as CEO. <ref>https://www.theguardian.com/world/2014/apr/19/wall-street-deregulation-clinton-advisers-obama</ref>
 
 
 
==Jail time==
 
[[Iceland]] was the only country that showed it's banking class that malice will be legally pursued.
 
 
 
{{SMWDocs}}
 
 
 
==References==
 
{{reflist}}
 

Latest revision as of 04:56, 25 April 2023