Tag Archives | Financial Crisis Inquiry Commission

Pentagon Contractor Blames Financial Crisis On Terrorists

FCIC logoDoes the author of this report really expect anyone to believe that the never-ending financial crisis was caused by “outside forces” rather than the very obvious culprits on Wall Street and in Washington? The Washington Times has obtained a Pentagon contractor report suggesting exactly that, however unlikely it may seem:

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.

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Wikileaks And The Secrets That Deceive Us

WikiLeaksIn the days of Stalin’s Russia, not only would dissidents “disappear” but also even in the pre-digital era, photographs of officials at May Day reviewing stands would be erased from photographs when their political stars fell. Our own “Kremlinologists” would know who was in, and who was out by comparing last year’s pictures with this year’s.

That’s one way of concealing information.

Just last week, Republicans on the Financial Crisis Inquiry Commission pushed to have certain words removed from the report they were writing because they posed a conflict to their view that only the government was to blame for the financial collapse

Explained economist Paul Krugman:

Last week, reports Shahien Nasiripour of The Huffington Post, all four Republicans on the commission voted to exclude the following terms from the report: “deregulation,” “shadow banking,” “interconnection,” and, yes, “Wall Street.”

When Democratic members refused to go along with this insistence that the story of Hamlet be told without the prince, the Republicans went ahead and issued their own report, which did, indeed, avoid using any of the banned terms.

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A New Blockbuster From Washington: The Financial Crisis Inquiry Commission Report

FCIC logoCall me a cynic, but somehow I smell a whitewash in the vein of the Warren Commission report and the 9/11 Commission report, and this time the Feds want to charge some serious dollars for hoodwinking the citizenry. From the Washington Post:

The government commission tasked with writing a public report to expose the causes of the financial crisis is keeping the structure of its own publishing deal private.

On Aug. 3, the Financial Crisis Inquiry Commission, a presidential body, announced that it had chosen Little, Brown and Co. to publish its final report about the meltdown — an anticipated and authoritative account pieced together by well-known journalist Matt Cooper. It did not mention, however, that the deal had unusual terms for the publication of a public document, including an agreement by Little, Brown to pay an advance to the government and the stipulation that a portion of the proceeds from sales be paid into U.S.

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