Is the current global financial crisis a created situation?

[dabees]

I've read various websites and blogs for around 2 years warning that this situation was coming, it may have just been guess work or people with the relevant knowledge predicting the markets. The US mortgage system (like the UK) was destined to fail, it lent money to people knowing they would have major problems paying it back.

Surely some US government advisers must have seen it coming? Were they warned? And chose to do nothing about it? If they were, then why did they let it get this bad?

Now for the controversial bit....Obama is leading the polls, McCain is floundering, and his choice of running mate is being shown as fool. I'm worried that Bush will break out the "Patriot Act" again when he knows the Republicans are going to lose. He'll claim that the financial breakdown of the west is a terrorist plot, and use it to change the electoral process.

He has form of interfering in elections after all. And his grandfather (Prescott Bush) was a banker that financed the Nazi regime. Bush may act the fool, but he has his own, well informed, regime behind him pushing towards a new era of fascism.

Any opinions?

[jno]

well, Brown's just used anti-terror legislation to try to screw money out of Iceland. Sounds to me as though the Reykjavik government may be crooks, but they surely aren't terrorists. So there's a precedent for Bush right there.

[dundurn]

The financial breakdown of the West is completely self-inflicted; in the case of America you could even say 'home-grown'. No self-respecting politician of either party is going to support this sort of action and Bush is hamstrung by the law, custom and practice and his own party in being unable to extend his Presidency beyond next January. His powers are further limited by the US Constitution which provides for a system of checks and balances and where the President cannot act indefinitely without the support of Congress or in defiance of the Supreme Court.

If you are postulating an armed takeover of the USA from within then I would suggest that the figurehead needs to be someone with more brains, charisma and popular support than are possessed by the current occupant of the White House.

[dabees]

I would agree with everything you've stated dundurn if the US constitution still existed, but it doesn't, the Patriot Act has done away with it, Bush seems to be following Hitlers path, do you honestly think someone with the likes of Cheney behind them will be allowed to fail?

[legend.isgod]

Its been known about by the banks in britain for 18 months now , and that was said on sky news the other day by someone at the stock exchange.The Banks have created this situation to make money , but didn't realise the problems they were creating , or didn't want to admit to them.
So now councils in England and even Charity's face having lost all their money in iceland banks.

As for nonsense about patriot act , Obama will win without doubt , McCain has done very little but flounder and he will lose.

No big conspiracy just the age old tale of big business getting too greedy.




D T H?

[sp1814]

What does DTH stand for?

[China Doll]

Splat - Did that help? Does that help? Variations thereof....

I think this time round if the republicans pull the patriot card from out their sleeve' they'll actually end up looking quite desperate if that makes sense as there's so much more going on in the world now that if their own response is that then they'll look stupid.

That said, some of the companies behind the republicans are stupidly powerful and it wouldn't matter if Bush was a fool or not. those companies aren't and that to me is the dangerous aspect. Money and greed and intelligence, scary stuff.

[:pagan:]

Beginning Oct. 1 for 12 months, the 1st Brigade Combat Team will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks.

But this new mission marks the first time an active unit has been given a dedicated assignment to NorthCom, a joint command established in 2002 to provide command and control for federal homeland defense efforts and coordinate defense support of civil authorities.

After 1st BCT finishes its dwell-time mission, expectations are that another, as yet unnamed, active-duty brigade will take over and that the mission will be a permanent one.

[tufty7]

Of course it is man made, draw yourself a graph with peaks and troughs in it, every 7 years or so it needs to peak and bottom out, just write at the top of the peak "money men get extortionate bonus's for doing there job" (shares high)
at the bottom write " money men buy shares with there extortionate bonus money they recieved at the market high"
Then when they get the peak again they sell and make even more money !! greedy ******* , i just hope that all these bonus's get squashed in future because they encorouge bad practices that effect us all,