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Wednesday, January 28, 2009

 
In Praise Of Banking Conspiracies

A Daimnation post about a South African official's remarks about Jewish money controlling the West prompted this comment from yours truly:

I wish a banking conspiracy (Jewish or otherwise) really did control America - we wouldn't be in this financial crisis.

Building a conspiracy of such proportions takes a lot of time and great financial market savvy. Banking conspirators would know what makes and what breaks markets, and wanting that which they seek to conquer to be as big and powerful and profitable as possible, they would do everything in their power to maximize the health of the financial markets under their sway.


The crisis was caused by a) Greenspan's artificial sustenance of a housing bubble through relaxed monetary policy, and b) hippy leftist utopians who strongarmed certain lending institutions into lowering their mortgage standards so that the poor could buy houses they can't afford.

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No competent banking conspirator would have bought into this crap.

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