21st Century Wire says…
No one really wants to discuss the banking disaster of 2008. It’s little wonder why that is. When a caper like this is pulled off in full view, and then defended by politicians as some sort of political victory for the people and their economic welfare, you can be sure that the facts on the ground are simply too embarrassing too bear.
The Emergency Economic Stabilization Act of 2008, signed on October 3, 2008, commonly referred to as “The Great Banker Bailout of 2008”, was rushed through Congress in response to collapse of banking giant, Lehman Brothers, and the subprime mortgage market collapse.
One man called the 2008 Crash in advance, and was 100% correct about how it would all go down. Sadly, Mark Pittman (photo, above) is no longer with us – but we’re taking this opportunity to remember him…
He predicted the 2008 Crash in vivid detail.
Keep in mind that Pittman’s analysis at Bloomberg News was delivered six months before the market collapse in the fall of 2008.
Why is it that the financial news (especially Fox and CNBC) has time for every idiot with an opinion regardless of how loopy, but few people have ever heard of Mark Pittman?
He explained that this would not be a normal downturn and why and how the banks were responsible.
He sued the Federal Reserve – the first person ever to do so in history – and won access to data they fought tooth and nail not to disclose to the public.
He won – and you never heard of him. He passed away at 52 (October 25, 1957 – November 25, 2009).
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READ MORE ECONOMIC NEWS AT: 21st Century Wire Financial