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Thursday, March 03, 2011

Blaming Terrorists for the Financial Crisis

It is possible to find taxpayer dollars that have been completely wasted:

Don't be afraid of economic terrorists, by Andrew Leonard: Just because there isn't any evidence proving that jihadi terrorists, Chinese Communists, Hugo Chavez or Mahmoud Ahmadinejad, separately or acting together, masterminded Wall Street's great financial crash of 2008 doesn't mean it couldn't have happened! That, in a nutshell, is the absurd, disturbing message at the heart of Kevin D. Freeman's Pentagon-funded study, "Economic Warfare: Risks and Responses." Since so much of what happens on Wall Street is hidden from public view or regulatory oversight, we don't know what really happened. Therefore, anything could have happened. And since there are bad guys who hate us -- well, you connect the dots.

Freeman published his study in June 2009, funded by a contract from the Department of Defense's Irregular Warfare Support Program. But for reasons that are not entirely clear, the Washington Times's Bill Gertz, a reporter who has made a career of hyperbolically exaggerating national security threats to the United States, waited until Tuesday of this week to cover the study at great length, declaring authoritatively, "Financial terrorism suspected in 2008 economic crash"... It seems the Pentagon no longer wants to have anything to do with Freeman's thesis, and even though it was submitted as source material to the Financial Crisis Inquiry Commission, failed to be included in the final report. So clearly, there is a conspiracy to suppress Freeman's truth-telling. ...

Or, alternatively, the fact there is no actual evidence supporting the thesis and the analytic rigor demonstrated by Freeman isn't what a serious person would find remotely convincing might be the real reasons for the mass shunning. ...

    Posted by on Thursday, March 3, 2011 at 02:31 AM in Economics, Financial System, Terrorism | Permalink  Comments (28)


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