The current financial crisis, evidenced by the fall of Bear Stearns, is a result of failed economic policy that kept the United States economy moving after the September 11, 2001 terrorist attacks. Some say fundamentalists struck at the heart of America’s financial district. American excesses and influence around the world were the targets. The idea was to take something valuable away from Americans in a sudden, shocking, and coordinated manner.

Similarity number one – The U.S. mortgage industry is taking away the homes and houses of Americans duped into buying them in the first place. The purchases were not excesses. Americans were told they could afford them, while brokers and agents knew they could not afford them. What started with two buildings is now hundreds of thousands of buildings.

Similarity number two – The resulting recession of 2001 was corrected by mortgage refinances, cash-out refi’s, and lower interest rates that allowed people to tap the equity in their homes. New homes sold, and Americans used their own money to help the economy. It is unfortunate that excesses and lack of regulatory oversight failed to halt a good idea that turned ugly and predatory. Again, American excesses were exposed to the world and other countries paid for it dearly.

Allow me to make it perfectly clear that I am not overlooking the brave Americans who died in the World Trade Center towers, nor do I take the attack on the Pentagon lightly. I am retired military, and as American as one can be. I also lived in many countries since 1949. I once had a neighbor from Iran during the time when Iran held American hostages. My neighbor told me she was returning to Iran so her children could experience the revolution. Needless to say we did not agree on everything, but we were friends, human beings, and we talked intelligently almost every day until she returned to Iran with her children. People, whether in the Middle East, the United States, or other countries, are all people who want the best for their children and future generations. Debate the issue, not the person stating the issue.

On a global scale both sides think they are right. Will other countries divorce themselves from the U.S. dollar? I guarantee the hard-sell debate is taking place today, around the world. American excesses removed billions from other national economies. Australian share prices are expected to end the year in deficit, the first year of decline in six years on fears that a likely U.S. recession will drag down the rest of the world with it, a Reuters poll of analysts showed. Six years – in other words 2002, right after September 11th.

What happens when the US dollar is divorced from all other currencies? What happens when OPEC gets tired of US intervention in their production? What happens when Bin Laden’s economic manipulation of the United States is complete? The answer, unfortunately, is a recession until $6 per gallon gasoline drives the country into a depression that could be worse than 1929. Diesel fuel last weekend was $3.99 per gallon in some parts of the mid-west.

To control world finance the world must have one world currency. When countries reject such an idea a depression will adjust the country’s thinking. The real art of manipulation is to finance a country’s debt. Theoretically the huge US debt, driven in part by Iraq, can be paid off in a number of years. Manipulation will prevent the payoff. As more banks, lenders, and trade banks go out of business, power is reconsolidated. Even Bear Sterns, JPMorgan, and others do not play at the high stakes game we are talking about here. Thus when one leg is knocked from under the table others will fall. We just don’t know which investment bank will be next.

In summary I suggest that all evidence points to the fact that poor people buying mobile homes and houses did not cause US economic problems. Evidence points to the fact that Bush’s advisors are not the best advisors in the world, but they are predictable. When one can predict, with reasonable accuracy, what another will or will not do then any given situation can be easily manipulated. Evidence also suggests that average Americans can be manipulated through the income tax system, social security, fear, and other factors. Thus I suggest it was no accident that divorcing oil prices from gasoline prices, new bankruptcy laws, protection against class action and other manipulations by the US government were accomplished by design.

The answer, and a major part to the puzzle, will only be known if a body of lawmakers can determine why Federal regulators did not halt abuses in mortgage and finance until it was too late. Then we might be able to determine who was pulling the strings, and who was influencing the country.

Unfortunately when the actual power lies outside the United States it will be hard to get an answer. With money and power comes the ability to stay off the radar screen. I suggest 2001 was the time for wealthy nations to decide what they will do if the world’s supply of oil is no longer needed in years to come. Controlling global banks and financing the debt of debtor nations is much more profitable. Manipulation continues at such a high level that the Bush administration does not even see it.