Ping!!!
mark
I realize this comment is peripheral to the main point of the article, but this particular sentence intrigued me...
“Substantially all of the outflows came from institutional accounts: retail investors never panicked.”
Was this because retail investors are inherently less panicky, or because they didn’t have the same “inside information” that the institutional investors had?
Aw, why ya gotta be a party-pooper...
I appreciate your post correcting the misinformation of Kanjorski. And I greatly appreciate your review of the events near the time line of the original misinformation. I had not understood this information was a re-tread. My query to you is; have you ever seen any clear explanation or summary of the cause and effects bringing about all the havoc that week? It was like watching a train wreck in slow motion. I DO understand that there were prior recent bank failures and a housing bubble ready to bust. But why THAT week, and not two weeks before, or three months later? Can you point me to such a summary? Because I am still grinding on the troubling theory that a few someones took actions stressing our financial system to the complete edge for their own political gain and affecting elections, and destroying the wealth of Americans everywhere and no one is presently sitting in jail for it. That grind bugs me badly. Thanks!