Back in 2008 a strange series of bank collapses sends tremors across Wall Street.
- In March 2008 Bear Stearns is in free fall.
- On 7 Sept the US government swiftly moves to push mortgage giants Fannie Mae and Freddie Mac into conservatorship.
- On 12-14 Sept Lehman Brothers nears collapse.
- On 15 September 2008, the firm filed for Chapter 11 bankruptcy protection.
- On 16 Sept the government creates a credit facility of US$85 billion to American International Group AIG so that it can avoid filing bankruptcy.
The situation is rapidly turning into a total clusterfuck when on 15-16 Sept markets crash and credit freezes….
.. forcing the US government to ask for $700 Billion on 18 Sept.
On 13 Oct the top 9 Bankers are summoned to Washington by Treasury Secretary Henry “Hank” Paulson. He tells them that they would be forced to accept government bailout money, whether they wanted it or not: ”If a capital infusion is not appealing, you should be aware that your regulator will require it in any circumstance.”
Here is an exclusive record that Hollywood has tried to cover-up pretending it was a movie cut. We don’t buy into this conspiracy theory and know all too well that this is a very important piece of intelligence about what really happened in 2008.