Posted on 02/12/2009 9:52:25 PM PST by FromLori
The recent bombshell that Rep. Kanjorski dropped gets bigger and bigger. Atlas reader Suzanne picked up on a mindblowing "detail" in my blog post: "RIGHT BEFORE THE ELECTION OF PRESIDENT HUSSEIN: "A $550 Billion Electronic Run on the Banks". Paul Kanjorski describes the closed door session of Congress where it was revealed that there was a $550 billion electronic run on the banks and that was what caused the economic crisis. In the video, Kanjorski says this occurred on Thursday, September 15, 2008. September 15th was a MONDAY.
THURSDAY was .......SEPTEMBER 11, 2008
This was a Financial Terrorist Attack on the seventh anniversary of 9/11. Aren't the American people entitled to know who was behind the run on the banks?
Why was this kept from the American people before the most important election in US history? And why did Obama treat it as an unimportant incident - accusing McCain of grandstanding when McCain left the campaign trail and flew to Washington? Remember what President Hussein said? "They'll call me if they need me."
FLASHBACK: "Call me if you need me"
When President Hussein was campaigning and the "economic crisis" hit, he did not think it pressing enough to leave the campaign trail, but now we should push through a trillion dollars in legislation without oversight because a few weeks later the King deems it urgent?
(Excerpt) Read more at atlasshrugs2000.typepad.com ...
Interesting. Late in the evening of Sept 19th a few of us were having this conversation: http://www.freerepublic.com/focus/f-chat/2085555/posts
Method.
Advance warning from Reserve Primary Fund.
Then on September 15, 2008, when Lehman Brothers Holdings filed for bankruptcy, defendants were still holding onto $785 million of its debt obligations, which were now worthless and furthermore by the afternoon of September 16, defendants had allowed about a dozen institutional investors to withdraw a total of over $40 billion from the fund, at the “net asset value” price of $1.00 per share, so the lawsuit.
Opportunity.
Same as above.
Things that make you go “Hmmmmn.”
For later reading. (Now, why would two such separate articles read so much alike? 8<) )
Bush was not himself the last year.. it was more pronounced as the summer wore on...
Agreed!
Snip...A Sept. 29 2008, SEC filing shows that Stable Investment held 11.1 percent of Reserve Primary's institutional shares at the beginning of the month. Based on the 48.9 billion institutional shares outstanding as of May 31, the most recent information available, Stable Investment's stake would have totaled about $5.4 billion.
Stable Investment has also invested roughly $5.9 billion in three other U.S. money market funds, according to documents filed earlier this year with the SEC. That includes $2.1 billion in the Invesco Aim Liquid Assets Portfolio; $2.3 billion in the JPMorgan Prime Money Market Fund; and $1.5 billion in Deutsche Asset Management's DWS Money Market Trust.
By Sept. 16 2008, the day after Lehman had filed for bankruptcy protection, investors had sought to withdraw $40 billion from the $62.5 billion Reserve Primary fund. Reserve Primary ended up releasing $10 billion at a rate of $1 a share. The last value published for the fund was 97 cents a share. Reserve Primary's loss triggered a widespread run in which investors withdrew $133 billion from U.S. money-market funds the following two days.
Revenge is a motive, isn't it?
So, the question for the men running (Communist) China is: Is losing 500 billion (in immediate cash value) as their 1.8 trillion investment in American stocks and government bonds loses 40% of its value (because of Obama’s socialist policies) worth more than the value of destroying America’s (formerly) free, open, capitalist society (because of Obama’s socialist policies)?
They are Chinese. They will find a way to profit from both.
Gordian’s Knot.
[THURSDAY was .......SEPTEMBER 11, 2008]
Just now reading your post Lori, I haven’t posted in awhile so missed a lot. This is more chilling than I realized.
Wealth and power, not opposite ends of a spectrum; if the Chicoms can reduce our wealth by forfeiting some of their wealth based upon our wealth, they gain leverage power with what they have remaining in holding our debt. Thier power goes up markedly while we struggle to remain solvent as they hold the blade over our collective necks.
I believe, if you watch the tape, he corrects himself saying "no, Thursday the 18th."
This is my recollection as well.
Yes, and Kanjorski corrects himself on the tape.
American politicians - of course - can only see to the next poll and the next election.
(Then again, the Chinese were the ones that sent a fleet to India, returned to China with trade goods and information and maps, got turned down by the conservative bureaucrats in China, and never went back.)
As I've tried to explain to Obamageddon he is wrong on his "facts". Are you going to ignore what's right in front of your eyes too?
I've met you in person before in Houston, if you remember, and I have no reason to BS you.
The point I tried to make was that the “run” was not the 11th of September, but a week later.
You should recant your errors before tomorrow night when PBS plays their Frontline special Inside the Meltdown if you wish to avoid further embarrassment.
Thank you for that important clarification.
Wow....PBS consults Krugman as an authority.
I’m shocked...shocked!
So much for your "that was the morning of the meltdown!
Obamageddon
The money market guarantee program was initiated on Thursday, September 18, 2008, thus that was the morning of the meltdown.
And you're telling ME to recant? Too funny! Even the special you're touting contradicts what you claimed!
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