Have you ever heard of the Managed Fund Association? I certainly had not until recently. I almost entitled this month’s blog, “Why is the MFA not being investigated?” Then I thought, “Oh, wait, of course not!” The Federal Bureau of Investigation and the Department of Justice (the FBI reports to the DoJ) both have become so corrupt at the highest levels during the Obama Administration that these governmental bodies cannot be trusted to help deliver justice on behalf of millions of average Americans, like me. I would not even be surprised if MFA was (and still is?) “colluding” with the FBI and the DoJ – and that is why we never hear about it.
My next thought was one of sadness for the U.S.A., which appears to have become remotely recognizable from the country of my childhood dreams, which was a beacon of justice and hope for the humanity.
In May 2016, I blogged about “The Big Short” by Michael Lewis. The Lewis’ book explained very well what caused the market crash of 2008. Another book, “Trickle Up Poverty” by Michael Savage, made me realize that what we learned in “The Big Short” was a tip of the iceberg. Savage dug deeper into the who, what, when, where, why, and how of the major events in 2008; namely, the market crash in September and the election of President-elect Barack Hussein Obama in November. Seemingly, they were two completely independent events. Or were they?
When I listened to a particular section of the Savage audio book, which I address below, I immediately thought of the PBS program, “Frontline: Money, Power, and Wall Street: Part Two;” especially the five-minute segment between 42:29 and 47:26 out of the 54:32-long program. It originally aired on April 24, 2012. The reason I remembered it so well was because of the stunning sequence of events on September 25, 2008, involving the two Presidential candidates, Republican Senator John McCain of Arizona, and Democrat Senator Obama of Illinois. Here is the sequence of key events leading up to and beyond September 25, 2008:
- September 20, 2008: Because of the near collapse of the financial market due to sub-prime loans, Treasury Secretary Hank Paulson and Federal Reserve Chair Ben Bernanke sent the bank-bailout bill to Congress.
- September 24, 2008: Senator McCain announced he was suspending the campaign because of the “historic crisis in our financial system.” He intended “to return to Washington tomorrow to participate in Wall Street bailout negotiations on the Hill.”
- It appears, in retrospect, that this was a setup arranged for Senator McCain by some unknown individual.
- September 25, 2008: A meeting was convened at the White House among President George W. Bush, Paulson, Bernanke, prominent members of the House and Senate, and both Presidential candidates. After a shouting match, President Bush walked out of the room. Candidate Obama took charge of the meeting, as noted below.
- September 29, 2008: The Senate voted against the bailout bill. The Dow fell 777.68 points, and the global markets also panicked.
- October 3, 2008: Troubled Asset Relief Program (TARP) was signed into law by President Bush, ostensibly to help stabilize the U.S. financial system. (None of the $700 billion TARP money that we, the taxpayers, funded was made available to anyone who needed loans, however. I remember it very well because of the dire straits the lack of capital at that juncture put us under, trying to keep our small business afloat, especially after the house fire in June 2008, just four months prior. It sure seemed to me like an attempt by the Obama Administration to destroy capitalism.)
At the September 25 meeting, Senator McCain, a career politician since 1986, was completely unprepared for what was to be discussed at the White House. In stark contrast, Senator Obama had the full grasp of the situation. He had been a Senator for less than four years at the time – with hardly any voting records. Until 2008, Candidate Obama was a complete unknown to the public. Despite his inexperience, he had been in contact with not only Treasury Secretary Hank Paulson but other key economic advisors such as Paul Volcker, Warren Buffet, Larry Summers, among others. He was fully prepared for this meeting for an emergency bailout of the banks. And he was not even the one that called the meeting.
Candidate Obama was impressive, to say the least. It was clear to everyone at this meeting, even to the Republicans, who the next President of the United States of America was likely to be. In the Frontline documentary, what struck me as unbelievable was his grasp of the situation when no one – not the President of the United States, not the Treasury Secretary, not the Chairman of the Federal Reserve Board, not the Congress, not the heads of the banks on Wall Street, and certainly not ordinary citizens like me – understood what was going on. How was Candidate Obama, alone, able to have not only the full grasp of the situation but be prepared to fully support the solution to help avoid a financial catastrophe at tax-payer expense, when no one else was?
Enter “Trickle Up Poverty” by Savage. It appears that Candidate Obama may have been coached by powers that be at the MFA. Below are key points from the Savage’s book, starting at the 03:21:40 mark of this audio book of 9 hours and 22 minutes:
“Those who conspired to create the financial meltdown have something in common. They are either affiliated with or in the hip pocket of the MFA. It consists of hundreds of firms and private investors who run hedge funds. Hedge funds are not bound by rules that apply to stock and mutual-fund trading.
“I believe Soros and hundreds of other hedge-fund traders, most of them MFA members, manipulated the system using, primarily, changes in two rules that enabled them to raid the financial markets, generating huge profits for themselves, causing the financial crash of 2008, and enabling Barack Obama to be elected. In other words, it appears they engineered the fraud that ushered in the era of socialist oligarchy in the USA.
“If so, they were successful in accomplishing their objectives in the 2008 election because they managed to have two of the primary safeguards to investors, the uptick rule and conventional accounting standards removed in 2007.
“During Christopher Cox’s term at the SEC, the uptick rule was eliminated on July 6, 2007. The rule, initially adopted in 1938, was one of the primary reasons we were able to recover from the Great Depression. This uptick rule limited short sales to stocks whose last trade was higher than the previous one. The uptick rule meant that traders who sell short could not cause the market price of a stock to drop continuously at a precipitous rate. Once the rule was removed, naked short selling was enabled and the circumstances were ripe for a raid, such as the one that occurred in 2008.
“By November 2008, just prior to the Presidential election, the elimination of the uptick rule had begun to have its desired effect. Short sellers raided the market, triggering the panic that changed the election’s outcome in favor of Barack Obama. The value of shares of major financial institutions dropped precipitously and Americans were rapidly cheated out of some $10 trillion in their 401(k) and other investment and retirement accounts. Who could forget that one?
“The result was the election of a leftist President, Barak Obama. No doubt Soros recognized that Obama was utterly ignorant of how capital markets work and he knew that the new President could be led around by the nose by him and his associates. That, coupled with Obama’s leftist upbringing and education, made him the perfect stooge for the financial saboteurs with designs not just on our economy but on our very way of life.”
The liberals have been, and will always be, focused on getting the masses to become dependent on the government – so that they can manipulate them in a socialist society to its destruction while enriching themselves beyond measure. (For proof, study the history of any and all socialist countries around the world.) It makes sense, therefore, that they would engineer a financial catastrophe of this magnitude to get to their end goal. The socialist liberals lie through their teeth to unsuspecting public, promise “a better society” to them (many of whom, of course, want everything provided to them for “free”) for the purposes of getting votes from them. The socialist liberals place blame on capitalism for the catastrophe the liberals themselves created on Wall Street in their attempt to make individual freedom a thing of the past. The socialist liberals’ behavior is nothing short of criminal.
I’m afraid that a second civil war may be in the offing in the U.S.A. because the fundamental value of this greatest country on earth is on the verge of being shredded to pieces by evil forces that appear to be gaining steam.
POSTSCRIPT:
On the same day the above blog was posted, in a New York Times article, George Soros, 87, said that Obama was his “greatest disappointment.” Soros also said that, after Obama was elected, “he closed the door on me.” These two comments appear to confirm that Soros was indeed behind the 2008 election, supporting Obama. The second statement, however, makes Soros appear not quite the puppeteer behind Obama’s socialist presidency as the rest of the world thought. Is the statement a fact? Or is it a façade? Only time will tell.
