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Inquiring minds want to know: Is Obama trying to legislation
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bankrupt America? One short year ago, asking this Senate approves extension
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Stratfor In the summer of 2008, as John McCain and Barack Obama were campaigning for president, a
series of economic events (started by Sen. Schumer) resulted in shifting the focus of the Click here for these headlines
Idiot Awards presidential campaign off the Iraq war, and on to the economy. These events ultimately resulted
in Barack Obama's election as President.
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June 26, 2008: Democrat Chuck Schumer leaked a memo questioning the solvency of IndyMac
bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators
pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank's failure. "The immediate
cause of the closing was a deposit run that began and continued after the public release of a June
26 letter to the OTS and the FDIC from Senator Charles Schumer of New York."

This event, coupled with the Lehman Brothers collapse in September, marked the beginning of
the current economic meltdown and provided the ammunition for massive government
intervention in the private market.

July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank. *

Sept. 6, 2008: Fannie Mae begins its downward spiral, which will end with a crash in                    
November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were          
identified in June of 2006, when 15 Republicans on the Senate Banking Committee introduced
legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.
 
Sept. 15, 2008: Obama and McCain are virtually tied in their race for the presidency. Out of no-
where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of
money market accounts in the U.S. to the tune of $550 billion. Rep. Paul Kanjorski of
Pennsylvania said that if authorities had not closed the banks, $5.5 trillion would have been
withdrawn from US banks, which would have caused the collapse of the US  within 24 hours.

This seminal event marked the ascendancy of Obama's candidacy, and eventually resulted in his
election as president.
Its no secret that Obama is a member of the far
Advertisement left. And he has staffed his administration with
fellow ideologues. Leftists, like former Green Czar
Van Jones, who states he is an "advocate for a
socialist utopia." Who believes that capitalism is
loading...
"oppression and exploitation."
 
People like Ron Blume, who was appointed to reinvigorate the manufacturing base, who states,
"We know the free market is nonsense."
 
Any economist can tell you that raising taxes, increasing debt, printing money and unbridled
spending is not the way to handle a recession. So either Obama is ignorant of this, or he willfully
chooses to ignore the lessons of history. Or he is adopting a strategy outlined by Cloward-
Pivens: Overwhelm the system until it fails, and then replace it.
 
Based on Obama's actions to date, reasonable people must allow for the possibility that the
change Obama promised may include destroying the free market economic system in order to
replace it with an economy regulated by government entities.  
 
Spending America into bankruptcy might just be our president's way of leveling the global playing
Check Out Kindle DX field. By bringing Americas to its knees. Based on Obama's actions, and the actions of his
appointees, its time to seriously consider if destroying our economy is Obama's goal.

*Portions of this article were taken from A Contrived Crisis? Feb. 23, 2009

Nancy Morgan is a columnist and news editor for RightBias.com

She lives in South Carolina
  

Article may be reprinted, with attribution

 
 
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