Thursday, June 18, 2009

Priceless Quotes by Paulson & Bernake

Thanks to ZeroHedge.com,

All the relevant quotes over the past 2 years demonstrate how profoundly Bernanke and Paulson have been misrepresenting just how extensive the crisis we are in. They are so wrong in their projections; to say they are stupid isn't correct. They are acting stupid because a group of individuals and companies just got over on America. The red print are my thoughts...

February 28, 2007 - Dow Jones @ 12,268

March 13th, 2007 – Henry Paulson: “the fallout in sub prime mortgages is "going to be painful to some lenders, but it is largely contained."

Just the lenders that were stupid enough to be holding the bag, oh and many of you small banks will be broken up with the help of the FDIC. We figured it was time to consolidate the industry in time for the NWO.

March 28th, 2007 – Ben Bernanke: "At this juncture . . . the impact on the broader economy and financial markets of the problems in the sub prime markets seems likely to be contained,"

March 30, 2007 - Dow Jones @ 12,354April 20th, 2007 – Paulson: "I don't see (sub prime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained." , "All the signs I look at" show "the housing market is at or near the bottom,"

April 30, 2007 - Dow Jones @ 13,063

May 17th, 2007 – Bernanke: “While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.”

May 31, 2007 - Dow Jones @ 13,627

June 20th, 2007 – Bernanke: (the sub prime fallout) ``will not affect the economy overall.''

July 12th, 2007 – Paulson: "This is far and away the strongest global economy I've seen in my business lifetime."

August 1st, 2007 – Paulson: "I see the underlying economy as being very healthy,"

October 15th, 2007 – Bernanke: "It is not the responsibility of the Federal Reserve - nor would it be appropriate - to protect lenders and investors from the consequences of their financial decisions."

Ah, but lets do it anyway.

December 31, 2007 - Dow Jones @ 13,265

January 31, 2008 - Dow Jones @ 12,650

February 14th, 2008 – Paulson: (the economy) "is fundamentally strong, diverse and resilient."

February 28th, 2008 – Paulson: "I'm seeing a series of ideas suggested involving major government intervention in the housing market, and these things are usually presented or sold as a way of helping homeowners stay in their homes. Then when you look at them more carefully what they really amount to is a bailout for financial institutions or Wall Street."

Really, You think? The "ideas" might be presented deceitfully as a way for people to stay in their home, but obviously they are not. 90% of TARP went directly to Wall St banks to settle old bets. Not to the homeowners.

February 29th, 2008 – Bernanke: "I expect there will be some failures. I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system."

Yes, the 5 banks that own 95% of the derivatives, that are "in" on it should come out in stronger shape. Now, if could just get the FDIC, to eliminate most of the small banks, we should have totally consolidated the industry world wide to our liking.

March 16th, 2008 – Paulson: "We've got strong financial institutions . . . Our markets are the envy of the world. They're resilient, they're...innovative, they're flexible. I think we move very quickly to address situations in this country, and, as I said, our financial institutions are strong."

March 18th, 2008 - Bear Stearns Bailout Announced

May 7, 2008 – Paulson: 'The worst is likely to be behind us,”

May 16th, 2008 – Paulson: "In my judgment, we are closer to the end of the market turmoil than the beginning," he said.

May 30, 2008 - Dow Jones @ 12,638

June 9th, 2008 – Bernanke: Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned,

July 16th, 2008 – Bernanke: (Freddie and Fannie) “…will make it through the storm”, "… in no danger of failing.","…adequately capitalized"

July 20th, 2008 – Paulson: "it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation."

July 31, 2008 - Dow Jones @ 11,378August 10th, 2008 – Paulson: ``We have no plans to insert money into either of those two institutions.” (Fannie Mae and Freddie Mac)

Actually, the plan calls for inserting money into every orfice of the American economy.....to the tune of trillions of dollars. Are you purposely trying to destroy our money??

September 8th, 2008 - Fannie and Freddie nationalized. The taxpayer is on the hook for an estimated 1 - 1.5 trillion dollars. Over 5 trillion is added to the nation’s balance sheet.

Yes, 9/11 was the date picked to pivot the stock market and implode it with bad news. Since Fannie and Freddie were a large part of the "conspirarcy" , 9/11 was chosen as the day to stick it to America for 1.5 Trillion dollars. And you thought what was happening in finance was independent of what was happening in real estate!

September 16th, 2008 - $85 Billion AIG Bailout “Loan”

September 19th, 2008 - $700 Billion Bailout Plan Announced

I wonder when Paulson first new of the problems at AIG? One month ago, (above) is he saying everything is fine!

I think he knew years ago when the idea was "conspired" at some Bilderberg meeting to use AIG as a money printing machine. Blow it up and out until it exploded. Same thing with Citi.
Possible Bank of America.

September 19th, 2008 – Paulson: "We're talking hundreds of billions of dollars - this needs to be big enough to make a real difference and get at the heart of the problem," he said. "This is the way we stabilize the system."

September 19th, 2008 - Bernanke: "most severe financial crisis" in the post-World War II era. Investment banks are seeing "tremendous runs on their cash," Bernanke said. "Without action, they will fail soon."

September 21st, 2008 – Paulson: "The credit markets are still very fragile right now and frozen", "We need to deal with this and deal with it quickly.", "The financial security of all Americans ... depends on our ability to restore our financial institutions to a sound footing."

September 23rd, 2008 – Paulson: "We must [enact a program quickly] in order to avoid a continuing series of financial institution failures and frozen credit markets that threaten American families' financial well-being, the viability of businesses, both small and large, and the very health of our economy,"

We will hold the economy and the market hostage until you pass my TARP bill.
And GS should profit during the 2 week crash period. (Can we see Goldman's Trades?)

September 23rd, 2008 – Bernanke: "My interest is solely for the strength and recovery of the U.S. economy,"October 31, 2008 - Dow Jones @ 9,337

36 comments:

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