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Thursday, November 20, 2008
Treasury Secretary Henry Paulsen threatened martial law if bailout bill was not passed
Remember when Congressman Brad Sherman of California gave a speech on the House Floor claiming that "a few members were even told that there would be martial law in America if we voted no" on the $700 billion bailout bill as first proposed? The revelation was shocking, and the video of the speech quickly shot around the web.
Now Jim Inhofe, a Senator from Oklahoma (and one of that body's most conservative members) in an interview on Tulsa 1170 KFAQ points to Treasury Secretary Henry Paulsen as the source of the threats about an economic collapse, civil unrest, and the imposition of martial law if the bailout bill was not passed quickly.
Pat Campbell: “Somebody in D.C. was feeding you guys quite a story prior to the bailout, a story that if we didn’t do this we were going to see something on the scale of the Depression, there were people that were talking about martial law being instituted, civil unrest….who was feeding you guys this stuff? Because clearly it worked on [Oklahoma Congressman John] Sullivan, clearly it worked on [Oklahoma Senator Tom] Coburn, it didn't work on you.”
Sen. Jim Inhofe: “That was Henry Paulson. We had a conference call early on, it was on a Friday I think -- a week and half before the vote on Oct. 1. So it would have been the middle … what was it -- the 19th of September, we had a conference call. In this conference call -- and I guess there’s no reason for me not to repeat what he said, but he painted this picture you just described. He said, ‘This is serious. This is the most serious thing that we faced. This is going to be far worse than the Great Depression in the 30s' -- and all these things, he was very descriptive -- if we didn't buy out these toxic assets, which he abandoned the day after he got the money.”
Here's a short audio clip from the conversation:
Posted by Kalim Kassam on November 20, 2008 in U.S. politics | Permalink
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Comments
Naturally the Fed will predict doom and gloom, and make threats, if they aren't the great saviours...they have the most to lose. Lets not forget that the Federal Reserve "Isn't" Federal and it has no Reserves.
It is a system of ghost banking (sub rosa international bankers) that we all end up owing money to....the most elaborate scam in the history of mankind. And somehow, we've agreed to it. Don't forget to pay "You're Taxes". They need your funds and your agreement in order to control you...
Posted by: JC | 2008-11-23 8:35:34 AM
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