“A $550 BILLION ELECTRONIC RUN ON THE BANKS”
http://www.freerepublic.com/focus/f-news/2183367/posts
On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a ....
Hm ... ?
9/11/2008 CATASTROPHIC FINANCIAL TERRORIST ATTACK CAUSED
ECONOMIC MELTDOWN
http://www.freerepublic.com/focus/bloggers/2184661/posts
2008 Market Crash Should be Investigated [Canada Free Press]
http://www.canadafreepress.com/index.php/article/21772
2008 Market Crash Should be Investigated, George Soros, Open Society, Shadow Party. ... On Thursday, an electronic run on the banks occurred. ...
2008 Market Crash Should be Investigated | RedState
http://www.redstate.com/jplukens/2010/04/07/2008-market-crash-should-be-investigated/
Apr 7, 2010 ... On Thursday, an electronic run on the banks occurred. ... Triggering a crash in 2008 would also serve his political investments. ...
Rep Paul Kanjorski does seem to be a prime source:
YouTube - Glen Beck Feb.11 2009 ONE | Septmber, 2009
http://www.youtube.com/watch?v=2r8AKDp_0ek
Financial ...Rep Paul Kanjorski: 11 Sep 2008 Electronic Run On the Banks Added to. Quicklist1:24 ... Tom Woods on Glenn Beck “Meltdown” 02/09/2009. 40976 views ...
Did they notice Sep 15, 2008 was a Monday?
“Investors were rushing out of these [Treasury and Federal Reserve] funds—$105 billion out of $1.8 trillion on Thursday alone—which in turn caused the funds to redeem their commercial paper investments.”
How do you redeem commercial paper?
“On Thursday at about 11 o’clock in the morning the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States, to the tune of $550 billion was being drawn out in a matter of an hour or two.
How would the Fed notice people making withdrawal requests from their money market accounts?
Nearly $3 trillion travels thru the Fedwire system every day. How would they even notice?
The Treasury opened up its window to help. It pumped $105 billion in the system
The Treasury doesn't have a "window".
The Federal Reserve does. You'd think something this important wouldn't get confused like that.
and quickly realized that they could not stem the tide; we were having an electronic run on the banks. They decided to close the operation,
Close what operation?
close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there.”
Who decided to "close down the money accounts"?
The $550 Billion withdrawn in an hour or two that Rep. Kanjorski refers to in his statement has never been independently confirmed or refuted.
Yeah, that's what I thought.
It's a story too good to confirm.