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On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically. The treasury tried to help with $105 Billion. But could not stem the tide. It was an electronic run on the banks. The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon (Within 3 hours) $5.5 Trillion would have been withdrawn from the US money market and would have collapsed the U.S. economy and within 24 hours the world economy. It would have been the end of our political and economic system as we know it.
Originally posted by KonigKaos
Rep. Kanjorski is a slime ball, this guy has been leading my district for along time and this is honestly the first time I ever heard anything from him, let a lone a few ads and maybe a statement. This guy is a horrible Rep of PA and he should of been voted out of office 2 terms ago. Hazelton Mayor Lou Barletta should of took his place and there we would of had a true leader in Congress
Dont listen to his man, hes a lier!
Originally posted by Hx3_1963
Not trying to start any "Thread War" just a FYI...