Supermodel Between Rock and Hard Place

(Conspiracy Nation, 06/30/08) – The economy was a supermodel, a “new economy.” It was born in 1987, when “Maestro” Alan Greenspan rode to the rescue of the swooned stock market damsel.

Coincidentally born in 1987 was Ruslana Korshunova, also a supermodel.

Saturday, in Manhattan's financial district, the safety net had been cut. The supermodel was caught between a rock and a hard place. (Background: “Headwinds Caused Model's Fall?”, http://www.shout.net/~bigred/Headwinds.html)

Five days earlier, the Wall Street Journal (WSJ) had signaled the FDIC safety net might be cut. Unlike investment banks, savers at FDIC banks are guaranteed protection up-front. There is a contract: save here and you are insured. But if pressures from the credit (credible) crunch snowball into ordinary bank failures, “the FDIC could be overwhelmed.” (“More Bank Bailouts Ahead?” by Antony Currie. WSJ, June 23, 2008, p. C10)

The FDIC, in other words, could itself be a bubble.

No suicide note was found following the death of Ruslana Korshunova. “A large hole was visible in construction netting... A spokesperson for the city Buildings Department could not confirm whether Korshunova's fall caused the hole and, if so, why the netting did not prevent her death.” (“Death of model officially ruled suicide,” by Steve Ritea. newsday.com, June 29, 2008)

Fortis Bank expects bankruptcies amongst 6000 American banks. Fortis expects a complete collapse of the US financial markets within a few days to weeks.

In other words, banks may soon plunge, as did Ruslana Korshunova.

Witnesses saw Korshunova plunge. This has transmuted into “saw her jump”, which is not the same as “saw her plunge.”

“A lot of banks are, er, teeter-tottering,” writes Irwin Stelzer in yesterday's London Times. Treasury secretary Henry Paulson is the nation's “number 1 bond salesman.” He went to Saudi Arabia, promoting bonds. But decline in the dollar has been hurting Saudi investments. “You want more oil?” demanded the insistent sheikhs. “Then shore up the dollar.” (“Saudis press United States to put an end to rate cuts,” by Irwin Stelzer. London Times, June 29, 2008)

The banks are teeter-tottering. The safety net has been cut. Will witnesses see them plunge?

"I heard what sounded like a gunshot or a bomb or an explosion," said a shocked Con Ed worker, Patrick, 32, of Brooklyn, who was talking to a cop nearby before Ruslana Korshunova hit the ground. "All I saw was something moving out of the corner of my eye, and then boom. It sounded like a bass drum when she hit the ground," said Steve Metzger, 36. (From alt.obituaries newsgroup)

The crash sounded like boom, synchronous with the FDIC safety net having been cut.

Dubya Bush has signed an Executive Order to declare a "financial emergency" as a prelude to Martial Law in the United States, reports Tom Heneghan, a close associate of Sherman H. Skolnick (1930 – 2006).

Martial law might be necessary if FDIC turns out to be a bubble.

In Manhattan's financial district, a supermodel plunged. The safety net had been cut. The crash sounded like a boom.

Conspiracy Nation

http://www.shout.net/~bigred/cn.html