Terrorists Did It, Really!

Oh my. There is a new report claiming the 2008 Financial crisis was a concerted effort by Terrorists. I kid you not. The Washington Times:

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.

Really? Sure, if you want to call Goldman Sachs, Citigroup, Countrywide, Bank of America, JPMorgan Chase, Lehman Brothers, Bear Sterns, Moody's, S&P, WaMu terrorists, fine by me.

But thinking this was anything beyond corporations with their fictional derivatives and unbridled corporate greed sounds absurd.

That said, the article points out the refusal to examine economic and financial warfare, meanwhile China is committing it and getting away with it, again by multinational corporations based in the United States. China is mentioned as one of the terrorists.

Regardless of the report’s findings, U.S. officials and outside analysts said the Pentagon, the Treasury Department and U.S. intelligence agencies are not aggressively studying the threats to the United States posed by economic warfare and financial terrorism.

Sorry folks, the enemy is within and it's called FIRE, the entire financial sector run amok.

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what a joke

Robert, I love your posts. This is the biggest crock of $@#& I have heard in a while.

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Hi, I'm Ed. Nice to meatchew.

there are so many crocks coming our way

I'm having a hard time sifting through all of them to write about it. Just unbelievable, we've gone from frying pan to hot fire to absurd hell.

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The Full Report

A copy of the original report can be found here http://intellicept3.blogspot.com/2011/03/did-financial-terrorism-caused-...

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Orwellian

The point could be made, in addition to the banksters driving the economy over a cliff, Osama Bin Laden warned we would be bankrupted in a protracted war..... This http://www.worldpress.org/Americas/1964.cfm is very interesting from 10-2004. He also gives himself some credit for bankrupting the Russians. HMMM...It wasn't Ronald Reagan?

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Odin

Nobody to shoulder the blame

It really seems funny to me that they want to blame the whole financial downturn and all its consequences on some outside forces instead of revealing to the public the persons responsible for the ineffective regulatory policies.

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Bush -Obama tax cuts

Bush giving tax cuts in the onset of the now nine year war helped prove Osama right. Maybe those same tax cuts for the "job creators" will start to bare fruit soon (not), Obama seems to think so. Bin laden was also right in saying our gov't is owned by the wealthy and our installed dictatorships in the middle east would fail. WE have lost the war and nobody is saying that.

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Odin

Engineer to get 10 years, Executives - 0!

This is incredible, an engineer who "stole" code they are looking at giving him 10 years for snatching software he wrote while out the door to a new company...
i.e. taking his work product with him.

Ok, but compare that to all of the executives who get jack, zip, nada, nothing, including AIG financial products and Countrywide.

So, if you're an executive you can commit all of the fraud and crime you want, yet if you are a geek, lordy they are gunning after you?

Different rules for different job roles?

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