2008 Financial Terrorism – Conspiracy or part of The Perfect Storm? (Phases 1 and 2)
In Sept, 2008, I penned the post, the US Economy: A Perfect Storm of Housing and Lending Events. This overview of how we managed to bring ourselves to the precarious cliff of a failed economy revealed it was not a single issue, but a combination of many events – including political pressure on lenders for homeownership, relaxing of GSE lending criteria, regulation/deregulation, and profit motivation by financial institutions – leading to an out of whack supply vs demand, driving up housing values to unsustainable and dangerous levels.
It never crossed my mind that financial terrorism could be another element to be factored in. So when the WA Times wrote of an unclassified Pentagon report by Kevin D. Freeman, my head perked up.
