VIDEO here plus video description.
QUOTE:
Quote:
http://www.liveleak.com/view?i=ca2_1234032281
Rep. Kanjorski: $550 Billion Disappeared in “Electronic Run On the Banks”
At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a “tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars.” According to Kanjorski, this electronic transfer occured over the period of an hour or two.
Here is a transcript of what Kanjorski says in the video:
“On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically.
The treasury tried to help with $150 Billion.
But could not stem the tide.
It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy.”
Kanjorski does not provide further details.
A Google search to verify this produces zero results. Less..
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http://www.infowars.com/rep-kanjorski-550-billion- (Link)
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Added: Feb 7 2009 In: news_politics
Recorded on: Feb 7 2009
By: lao_tze
Tags: Kanjorski, financial crisis, treasury, tarp, bernanke, paulson
Views: 22461 | Votes: 1 | Recommendations: 15 | Comments: 28
Re post no.8: I have no way of verifying the video in post no. 8.
It is posted here as an fyi for archival purposes.
Soros and pals. MCCain was up in the polls, that happened and the rest is history.
ON THE INTERNET:
http://news.google.com/news?hl=en&um=1&tab=wn&nolr=1&q=%24550+Billion&btnG=Search+News
http://www.google.com/search?hl=en&q=%24550+Billion&btnG=Google+Search&aq=f&oq=
http://blogsearch.google.com/blogsearch?hl=en&ie=UTF-8&q=%24550+Billion&btnG=Search+Blogs
His last words, “We don’t know”, is not very inspiring.