The $500 Billion run on money markets occurred within 1 hour. The time frame was 11:30 AM to 12:30 PM, on Thursday, September 18, 2008. When it became clear that an injection of $120 billion could not halt the hemorrhage, trading was suspended and the damage was irreparably done.
Your economically sophisticated and logical reasoning is quite sound. However, the event has many illogical, but equally sophisticated aspects that are inexplicable at the moment, including the precise timing and the identities of the prime movers in the event. So, it is not yet "pretty clear what happened," except if you are speaking of a damage report.
However, given George Soros's long and criminal history of currency manipulations conducted against governments other than our own, certainly an investigator would be amply justified in making him "a person of interest" in the case. Were I George Soros, I would be extremely grateful that those who investigate him will probably be Americans, not French, Indonesian, or especially the Russians.
..... No matter what, it would have happened eventually....
A reasonable assumption on your part, but an assumption none the less. It is an equally reasonable assumption that a coordinated blow was delivered against the financial system of our country on 9/18/08.
We can investigate, but I don’t think Soros orchestrated this for political gain. For days, from about September 11th on, the street was waiting for the announcement of a bailout for Lehman...it didn’t come. When Lehman fell, the ripple effects began. I see panic on the part of investors and some manipulation by Buffet and others to try to calm the waters, it just didn’t work.
bookmark
Maybe it was both. A coordinated blow and actions by a lot of investors like me with a few bucks in our IRA money funds.
Below is a little summary of my actions that day and the next day. I’m that I was not by myself. Also, I’m not on George $oreA$$’s special email list.
http://www.freerepublic.com/focus/news/2183027/posts?page=131#131
I know rumors can spread fast on Wall Street, but one hour to move $500 billion?
My big question is where did the money move to, not the stock market, not gold either or Treasuries, so where did it go?
Remember, we are talking about money market money, which is considered cash by many, so it needs to be parked somewhere, but where?
A caller reminded Rush Limbaugh about this interview today. Bump. My personal review:
http://www.freerepublic.com/focus/chat/2464021/posts?page=3#3