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To: Halfmanhalfamazing
They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there.

The 550B would have nothing to do with 250k guarantees and vice versa. This mythical run was not made on 220,000 separate accounts that Soros had in 220,000 different names. The ideas expressed here are ridiculous and disjoint. Obviously the financial system was in turmoil and there was a rush to cash at some points. But the credit unwinding and deflation were well underway thanks to protectionist European banks. The trigger event was the initial failure of bank bailout thanks to a fair number of Republicans and some left wing Democrats. They were quickly whipped into shape so that our banks could be nationalized.

As for timing, the crisis was bound to affect the election especially with McLame's subservience to the bailout masters. But to say that there was a particular event timed to affect the election and that affected the outcome is ridiculous. It smacks of the usual denial of reality:

Debt, as a ratio to income (e.g. GDP), cannot grow to infinity. Sooner or later it crashes.

19 posted on 02/11/2009 3:42:18 AM PST by palmer (Some third party malcontents don't like Palin because she is a true conservative)
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To: palmer
Debt, as a ratio to income (e.g. GDP), cannot grow to infinity. Sooner or later it crashes

Oh yeah?

None of that is stopping congress from running up a national debt into trillions of dollars which can NEVER be repaid.

24 posted on 02/11/2009 3:49:03 AM PST by NoControllingLegalAuthority
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