[OafOfOffice]

The run on money market funds occurred due to the failure of Lehman Bros on September 15th. The Reserve Fund, the original money market fund, was heavily invested in Lehman Bros paper and it “broke the buck” meaning its shares fell below a dollar. This was just more fallout from the collapse of the mortgage bubble. No conspiracy needed.

Are you talking about the 550 billion electronic draw down on banks last year? The one that put Obama firmly in the winners seat? And the one Paulsen went screaming to Bush he needed to plug the hole with a immediate cash infusion? TARP!

[Pelham]

There was no “550 billion draw down” of money market funds other than in the imagination of the New York Post and Rep Kanjorski. If you can find data to back up his claim then I imagine Kanjorski would be as surprised as everyone else.