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How this crisis happened from beginning to end.

Highlights: Who, what , when, where, and why of the financial crisis
Web-Links loaded with information about the finical crisis
1913 - The Federal Reserve Act is
passed, creating a governmental monopoly of the money supply.
Since the establishment of the Federal Reserve, in 1913, the U.S. dollar has lost over 95% of its purchasing power.
The Fed and Its Lies (2008)
Aug. 11, 1987 - Ronald Reagan
appoints Alan Greenspan as chairman of the Federal Reserve. He will serve in this position for the next 18 years. Most of the deregulation and low interest rates put in place by him happens during the Clinton Administration.

Alan Greenspan and the NY Times

Time-line: Alan Greenspan
1990 - Finance/Insurance/Real
Estate Companies made
$2 Billion in political
contributions over 18 years.
Political roots of the economic crisis
1999 - Senator Phil Gramm (R-TX)
and House Member
James Leach (R-IA) introduce legislation that repeals the Glass-Segal Act of 1933.

The Bill passed by a 2/3 majority making it Veto Proof.
Key Policy Decisions
-Article that does a good job explaining US policy decisions that enabled this crisis to happen.
Glass-Seagal Act
December 21, 2004 - Fannie Mae
CEO Franklin Raines
resigns and Daniel Mudd is named interim CEO. -The 2004 Congressional hearings regarding Fannie Mae was about ACCOUNTING practices, NOT Sub-prime lending practices . - Mudd reverses polices that opened the door for this massive abuse of power. Pressure was coming from the lending Companies as well as Capitol Hill to ramp up the Sub-prime lending.
"According to a survey by the New York Fed, about 77% of sub-prime mortgages and 85% of Alt-A mortgages were issued after 2004."
- David Fiderer
 Events Leading to CEO Daniel Mudd's appointment

Fanny Mae's Accounting Mess
-Note: This had nothing to do with the Sub-prime mess!
Fanny Mae & the Crashing Economy: Fact vs. Fiction
-This article was written in response to a heavily edited you tube video. The video is disgusting and does not represent the truth. This article does a good job separating fact from fiction.
March 2008 - G-7 hints at another
round of rate cuts. In retrospect, we could have
seen this coming...if we
had bothered to look.
"Other weapons in the G-7’s arsenal to counter a bear market for equities include brainwashing investors through the media, fudging economic and inflation data, inflating the money supply, managing the “yen carry” trade, and outright intervention in stock index futures, championed by the US “Plunge Protection Team.”
- Gary Dorsch 		Economic Crash is Coming
- A concise analysis of the G-7 Central Bankers mad dash to cover up a bare market.




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stereoagnostic 		Latest page update: made by stereoagnostic , Dec 9 2008, 1:44 PM EST (about this update About This Update stereoagnostic Edited by stereoagnostic

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etharmon Only a fraction of the puzzle has been put together! 3 Dec 2 2008, 7:57 PM EST by etharmon
Thread started: Nov 22 2008, 1:29 PM EST  Watch
We need researchers and fact checkers to make sure we are getting all the peices and putting the puzzle together correctly. This goes back further than the 1990's...that was just a really big peice of this puzzle and a good place to start.

Help us help the World by figuring out this mess.

This is not a quest to assign blame to a general group. It is to seek out the individuals from various groups that checked their ethics at the door. We need to know what they did, how, its effect, how to fix it, and prevent it from happening again.

Glass-Segal is a good example of this...some things should not be mixed!
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Keyword tags: ethics
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