I asked the question at the time if Glenn Beck contributed to the collapse of Bear Stearns in 2008, and today’s radio show forces me to ask it again more forcefully.
Glenn had a guest on GBTV last night spinning all kinds of theories “connecting” short selling, Osama Bin Laden, China, Ghadaffi, George Soros and Islam working together to commit financial terrorism to cause the collapse of Bear Stearns – a theory worthy of Coast to Coast. It’s no wonder the US Government is not responding to his crackpot theory.
At the time of the Bear Stearns collapse, Glenn Beck had his nightly show on CNN. He was clearly spooking the market for the stock of Bear Stearns at the time – saying on CNN and his radio show that he “has been hearing things” that there may be trouble at Bear Stearns – and as the selling panic started, kept feeding the fear of the collapse without presenting any specific reasons.
My belief is that someone within CNN or Beck’s sphere of influence used him to collapse Bear Stearns, knowing that Beck was naive about the stock market and didn’t fully appreciate how little it takes for a TV host to spook the market for a stock.
At a minimum, I think we need to know who it was that was telling Beck there were problems at Bear Stearns. That could go a long way toward pointing us in the right direction to find The Truth.
Here is a good place to start – from the biography of Larry Kudlow:
“He was formerly chief economist and senior managing director of Bear Stearns & Company. Mr. Kudlow started his professional career at the Federal Reserve Bank of New York, where he worked in open market operations and bank supervision.”\
Kudlow has been doing a show at WABC-AM since 2006, which is also where Glenn Beck was doing his show since 2001.
Here is some additional interesting reading: