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  • Defusing A $5.5T Run On The Banks

    02/15/2009 8:27:17 PM PST · by CutePuppy · 37 replies · 1,771+ views
    New York Post ^ | February 15, 2009 | Michael Gray
    The Post hit the nail right on the head when it reported exclusively last September that the US narrowly averted a crash of the financial markets, it was recently revealed. In the days after the Lehman Brothers bankruptcy, there was a run on the country's money market funds as investors feared the bonds held by the funds would collapse - which The Post reported in a Sept. 21 story entitled "Almost Armageddon." Rep. Paul Kanjorski, of the House Finance Committee, confirmed the bank run recently. .....