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I’ve listened to video of Sen. Paul Kanjorski, at 222.youtube.com/watch?v=setWW57RRsI , describing what happened, and he says that Paulsen and Bernanke met with Congress around Sept 15, 2008 (a Monday) to explain the situation - that the Thursday before (which would be Sept 11, 2008) they had noticed a huge electronic run on US money markets, to the degree that by the end of the day there would have been 3 trillion withdrawn and the anticipated panic would have collapsed the US economy by 2pm and the world economy within 24 hours. They had started to try to bridge the gap by pumping treasury money into the market but quickly realized that they couldn’t keep up. So instead they closed the market and issued a guarantee of up to $250,000/account, to try to prevent panic.

And what Bernanke and Paulsen were asking Congress to do at that Sept 15 meeting was to respond to that run on the bank by allowing them to buy up the subprime loans (that Obama had pressured bankers to have to do because of CRA, as directed by the Cloward-Piven communist plan to destroy the US economy)

I and others have said that the run on the bank was on Sept 18th. But it couldn’t have been on the 18th, if the meeting with Congress to describe what had happened and to request TARP money was on the 15th. I’ve looked at some of the articles from back then and it seems like the general public was not told about the run on the bank until the 18th but that must not have been the day that the actual event happened.

Am I missing something? Does Wall Street close down over the weekend? Was the market shut down on Sept 11-12, 2008? Did anybody here watch this thing happen in real time?

At http://www.nytimes.com/2008/10/02/business/02crisis.html?pagewanted=1&_r=0 it gives a detailed timeline and says that the meeting with Congress happened the afternoon of Sept 18th, not the 15th as Kanjorski claimed. Says that the SEC copied the lead of Britain and instituted a ban on short selling (which is what Kanjorski must have meant when he said they shut down the market) - mostly to try to scare people, who responded by buying and drove the Dow up.

Anyway, if that is correct, then Kanjorski just screwed up his date in that video clip and the Congressional meeting with Paulson and Bernanke that he referred to happened on the same day as the run on the bank - Thursday, Sept 18.