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Forum Post: The Culprit of 2008 Financial Crisis is Sheila Bair

Posted 12 years ago on Nov. 12, 2011, 3:58 p.m. EST by conscientioushonest (0)
This content is user submitted and not an official statement

People often attribute the 2008 world financial crisis to the collapse of Lehman Brothers. However, the truth was during the collapse of Lehman Brothers on 9/15/2008, the whole world’s stock market was still very stable, DJI went up 471 points from 9/15 Monday to 9/19 Friday.

It was not until completely wiping out WaMu shareholders by Sheila Bair on 09/25/2008 and because Bair’s misconduct was not condemned, this most powerful woman in the US abused her power again and proudly did it to Wachovia bank within 2 business days that triggered 2008 world financial crisis. In response to it, DJI plunged 778 points on Monday 9/29/2008. It was Bair’s misconduct to wipe out the two of the largest U.S. banks within two business days and she had the power to make any big bank disappear and wipe out its shareholders at any time she wants that triggered world financial crisis.

It was Bair who destroyed the American people’s confidence by this unlawful seizure of well-funded WaMu and wiping out all shareholders. The American people were totally astonished and panicked. Who would be the next victim? They worried that their lifetime savings and retirement investment could be plundered by Bair without any justification and given away for free. It was Bair’s illegal abuse of power by plundering WaMu from the shareholders while it was still healthy that scared American people and caused the cascade of worldwide financial crisis.

As a government official, Ms. Bair was supposed to protect American people, however she only pursued her personal agenda. If Ms. Bair were an honest person who really works for the benefit of FDIC, she would have had an open bid on WaMu to get more money rather than to give it to her Dimon for a merely 1.9 billion. Whoever offered more in the open bid would get WaMu, which is supposed to be the fair competition by American spirit. However, Ms. Bair had her own personal agenda to help her Dimon. It was this premeditated conspiracy between Mr. Dimon and Ms. Bair that triggered 2008 world financial crisis.

For three years, the voice of We the People, American middle class were too weak to be heard. Now it is the time for the voice of American Middle Class to be heard. The fraud and misconduct of the culprits of world financial crisis, Ms. Bair and the conspiracy and collusion between Mr. Dimon and Ms. Bair to wipe out WaMu shareholders should be investigated. American Middle Class - WaMu victims should be compensated by Wall Street grand thief JP Morgan Mr. Dimon.

-We the people, American Middle Class, WaMu shareholder victims

Email me at: conscientioushonest@gmail.com



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