Inside the Meltdown: Anatomy of a British Swindle

[Post Summary]

His sword is on his thigh because of fear in the night.
—Song of Solomon

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Someday historians will look back with laughter at the arrogance of those who tell tall tales — presenting characters possessing high social status as victims of circumstance who were reacting in a crisis as best as conditions dictated — attempting to placate an educated, thinking audience who understand how they are being swindled. Summing up the PBS production, "Inside the Meltdown," this, I believe, will be its fate one day.

Which Wall Street firm was rumored to have pulled out of Bear Stearns the fateful week — March 2008 — Bear Stearns fell from grace?

Why it was the same firm the Treasury Secretary had served as CEO.

And which storied firm — deeply connected to the City of London — picked up Bear Stearns' pieces? It was the same house of Morgan that precipitated the panic of 1907 and organized an attempted coup against U.S. President Franklin D. Roosevelt in 1933. JP Morgan is no stranger to treason in America.

The ongoing swindle's die was cast with the demise of baby Bear Stearns.

Now, which institution rightly prevents a handful of private firms from possessing unfettered financial control over a coast-to-coast economy containing 300 million head of cattle?

It is the U.S. government.

Thus, wiser minds appreciate the line of attack taken following Bear. First, destroy the viability of government-backed mortgage agencies — Fannie Mae and Freddie Mac — then move to destroy the credibility of the Treasury itself, saddling it with liabilities the likes of which any thinking citizen knows will never be made good. The collapsed physical economy virtually guarantees default's eventuality.

So, using the template forged by the Bear Stearns take down another British-connected investment bank — Barclays — was given choice pick over Lehman Brothers' assets for pennies on the dollar. In the process a fine story about "moral hazard" was concocted for consumption by uninitiated and gullible sorts, explaining why Lehman was let go. The consequences were known. That's why the Big Lie is still told to this very day: namely, that what happened following Lehman's bankruptcy was "unforeseen." Unfortunately, the producers of Inside the Meltdown slipped up, stating the books at Lehman were opened the weekend before it was forced into bankruptcy. Was no measure taken to contain certain fallout a means to an end, say, creating conditions sure to challenge the resources of the U.S. Treasury?

Deep six Paulson's "regret" for taking unprecedented measures to inject capital into the banking system following the Lehman Brothers bankruptcy. It was one step back — swallowing ideological objections — so two steps forward could be taken toward the day a thieving ideology might proceed unchallenged with the U.S. Treasury out of the way.

Regrettably for swindlers who pulled this thing off (and continue justifying their unfinished scheme) there are many Americans wondering about the principle of bankruptcy. Why does it not occur to these so-called "authorities" that conditions causing a spectacular unraveling, upsetting millions of lives, are as sure a sign as ever there was the whole arrangement is bankrupt? So, where's the re-org? What are these men trying to save? The Queen?

—Tom Chechatka