Retroactive Effect
Banned
I am trying to write a time line where the Federal Reserve chair man Alan Greenspan and Ben Bernanke push for low interest rates, less regulation and kick start a Quantitative easing program after the .com bust. I hope people find it interesting.
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It's October 4th 2009, the banks have been taking personal deposits just to stay afloat for the last three months. We fear a bank run might come any day now. We thought the banks knew what they were doing as did we but, it's all come crashing down. The banks need 3 trillion if we expect the system to last past this month, congress is refusing to agree on a bill and the clock is running out. We might need to let some other banks go under, we don't know what will happen if we do but I don't know what other choice we have if we can't get Congress to pass the whole 3.44 Trillion though and get the president to sign it.
I have already called my wife telling her to take as much cash as she can and get the kids to New Zealand where the house I bought 6 months ago is. Many Government officials in the know have been telling there wife's to hit all the ATM's now over the past week as the bill in Congress is at a standstill not having passed though the house or the Senate.
It all began with the former Federal Reserve chairman Alan Greenspan who had told me the banks had managed to convince him to run straight to the floor on interest rates in 2001 after 9/11. Our meeting when I transitioned into his office went well back in 2006, we agreed on many things but now I question if we were right. Alan had told me he was doubting his policies and if it weren't for the fact he was leaving he would likely change direction in spite of what he believed due to risk starting to crop up in the housing market. I reassured him that our held beliefs were correct and that keeping very close ties to private banks could only be kept if we heard them out by doing what they ask for.
If only he had been more careful after 9/11..... Just maybe this wouldn't be happening to the world.
-----------------------------
It's October 4th 2009, the banks have been taking personal deposits just to stay afloat for the last three months. We fear a bank run might come any day now. We thought the banks knew what they were doing as did we but, it's all come crashing down. The banks need 3 trillion if we expect the system to last past this month, congress is refusing to agree on a bill and the clock is running out. We might need to let some other banks go under, we don't know what will happen if we do but I don't know what other choice we have if we can't get Congress to pass the whole 3.44 Trillion though and get the president to sign it.
I have already called my wife telling her to take as much cash as she can and get the kids to New Zealand where the house I bought 6 months ago is. Many Government officials in the know have been telling there wife's to hit all the ATM's now over the past week as the bill in Congress is at a standstill not having passed though the house or the Senate.
It all began with the former Federal Reserve chairman Alan Greenspan who had told me the banks had managed to convince him to run straight to the floor on interest rates in 2001 after 9/11. Our meeting when I transitioned into his office went well back in 2006, we agreed on many things but now I question if we were right. Alan had told me he was doubting his policies and if it weren't for the fact he was leaving he would likely change direction in spite of what he believed due to risk starting to crop up in the housing market. I reassured him that our held beliefs were correct and that keeping very close ties to private banks could only be kept if we heard them out by doing what they ask for.
If only he had been more careful after 9/11..... Just maybe this wouldn't be happening to the world.