[Robert A Cook PE]

Well, without the Lehman Brothers’ fall - which triggered the next six weeks of emergency “Wall Street bailout” maneuvering leading to the first vote on Socialism 101, Obama would not have been able to (1) get in power and (2) put Pelosi in position to get Socialism 102 passed.

Without this event, McCain wins. He (Obama) owes everything to whatever/whoever pushed the button (pulled the strings ?) on Sept 9-10-11-12 on Wall Street.

[Mad_Tom_Rackham]

Yes, and I don’t think any of that is coincidence.

[philman_36]

Too funny...
Fannie and Freddie's woes no big threat to money market funds Sunday, July 20, 2008
And if circumstances put a money fund into break-the-buck territory, industry watchers say management will bail it out. No fund firm that wants to stay in business would suffer the embarrassment - or resulting rush for the exits in its other funds - from having a money fund fail. There are countless cases over the past 15 years of firms buying back troubled paper from their money funds to ensure that retail shareholders avoid a loss.

All is well! Just ask Bawnie Fwank.
Sometimes you don't know whether to laugh or cry.

[philman_36]

Some of the wording in this article is almost the exact same as that used in the previous article.
This is rich...
Debunking money market fears
Again that's no guarantee for the future. If conditions in the credit markets deteriorate to Armageddon-like conditions, I suppose anything could happen. (Although, for what it's worth, my assessment is that Fed chairman Big Ben Bernanke, while understandably reluctant to take precipitous action, will do what it takes to prevent any sort of all-out meltdown in the financial markets.)

Snip...But I think the possibility of a money fund breaking the buck is extremely low and the chances of money fund investors taking a loss are even lower. So I think the last thing you want to do is panic, or for that matter even spend your time obsessing about this. At least I know I won't.
Maybe he should've obsessed.

New line of thought from here from checking up on later "thoughts" by Walter Updegrave......the investments allowed us in my union retirement account.
My total account is sitting in their money market fund – which one would hope is safe. However, the investment bank has had to prop-up the fund with millions of dollars to keep it from “breaking the buck.”

[philman_36]

My how interesting the rabbit hole is...
This...Chinese Foreign Investment: Insist on Transparency
As for CIC,the financial crisis did reveal a multi-billion dollar placement with an American money market fund that likely reflects much more money placed by all Chinese institutions.
Led to this...
Let Them Eat Subprime: Chinese SWF Down $5.4B Tuesday, October 14, 2008
I find it utterly unremarkable that China's sovereign wealth fund, the China Investment Corporation (CIC), has had $5.4B frozen in a money market account gone bad. Sometime ago, the Reserve Primary Fund caused much turmoil among money market funds when it "broke the buck" or had its net asset value (NAV) fall below 1.00. It turns out that it had invested in Lehman Brothers debentures--not a very wise move. Now, the Financial Times reports that the Reserve Primary Fund's largest institutional investor is none other than the CIC.
Snip...Stable Investment Corp, which is registered at , held 11.1 per cent of Reserve Primary’s shares, or around $5.4bn worth, at the start of September.

It makes you wonder if the institutional investors who got the heads up were the Chinese as the numbers given are close. The "bank run" was $550 billion dollars (5.5bn) and amazingly enough the amount the Chinese had invested was 5.4bn.

Was the Chinese pull out, with advance knowledge, be the plurality of the bank run with only smaller investors making up the remainder?
Who knows.

[philman_36]

Global Recession and China
China, which has primarily held its $1.8 trillion in currency reserves in low-yielding U.S. government debt, set up CIC last year to put about $200 billion into assets with higher rates of return, such as stocks and corporate bonds. It invested $5 billion in Morgan Stanley, the second-biggest U.S. investment bank, and $3 billion in buyout firm Blackstone, manager of the largest leveraged buyout fund. Both New York-based companies have lost more than 70 percent of their market value since the purchases.

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?