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To: philman_36
The Money Market Meltdown of 550 billion dollars in withdrawal orders occurred September 18, 2008 between 11 A.M. and 2 P.M. when the Fed stopped Money Market redemptions after an injection of 108 billion failed to halt the slide.

Those are the facts behind Kajorski's CSPAN revelations.

103 posted on 02/17/2009 4:18:29 AM PST by Obamageddon (Birth certificate and college transcripts will be required for Federal employment, Mr. Soetero)
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To: Obamageddon

bump


104 posted on 02/17/2009 5:55:33 AM PST by Ditter
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To: Obamageddon

Whatever. There’s enough evidence out to show what happened and when it happened.


105 posted on 02/17/2009 10:07:27 AM PST by philman_36 (Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
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To: Obamageddon
The Money Market Meltdown of 550 billion dollars in withdrawal orders occurred September 18, 2008 between 11 A.M. and 2 P.M. when the Fed stopped Money Market redemptions after an injection of 108 billion failed to halt the slide.

Here are some more "facts" that you'll deny...
Washington Moves To Shore Up Money Market Funds Friday, September 19, 2008
The U.S. government acted Friday morning to prevent a broad collapse in the money market industry as the $3.5-trillion sector saw hundreds of billions of dollars head for the exits.

Snip...The problems at Putnam threatened to spread across the industry, with nearly $90 billion of net investor cash pulled out Wednesday -- the largest single-day drop in history, according to iMoneyNet -- and Thursday saw net outflows of $56 billion.

Everybody, except you, seems to think the meltdown happened before the Fed took action. The Fed reacted to the meltdown, which had already happened and would have continued.
ALMOST ARMAGEDDON

What's that? MON-WED: $144.5B pulled from money market accounts (MMAs)

The injection of capital into the market was followed up by calls from Treasury Secretary Hank Paulson to major money market players like Bank of New York Mellon and State Street in Boston informing them that federal money was in the market and they should tell their clients the Feds would be back with a plan to stem the constriction in the credit market.
Paulson knew the $105 billion injection was not a real solution. A broader, more radical answer was needed.
Hours after Paulson made his round of calls to calm the industry, word leaked out that an added $1 trillion bailout of banks was being readied. Investors cheered. At about 3 p.m., news of the plans was filtering up and down Wall Street, fueling a 700-point advance in the Dow Jones industrial average through 4 p.m. Friday.

106 posted on 02/17/2009 10:38:30 AM PST by philman_36 (Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
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To: Obamageddon
All right, I've watched "Inside the Meltdown" and the show is now over. Show me where you're right and I'm wrong.
I'll eat crow if I'm wrong, but you need definitive proof, not just your saying so. Links and/or video start/stop points need to be provided. I'm not just "taking your word for it".
You say...I'm not easily brow beaten.
(Note that in that very reply you gave a link to the very same article that I did, obviously without the graphic, in reply 106.)

Come on out and prove me wrong with specifics so you can bask in the glory of having me eat crow!
Show me where...The meltdown in the money markets occurred on the morning of Sept. 18, 2008 at around 11:00 A.M. EST....when EVERYTHING, including the video you touted as showing that the meltdown happened as you say it did, says that you're full of BS and the meltdown happened in the previous three days of Sept. 15-17.

107 posted on 02/17/2009 8:19:43 PM PST by philman_36 (Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
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