THE FED: Big Banks Will Not Be Allowed To Fail, Bernanke Says

reply to post by burntheships

Do we have curb pick up there in Washington D.C.?

They don't make enough garbage trucks to grab all the trash that's in Washington....and if they did...they had better stop by Bush's ranch and throw his ass in the dump as well.

What else can I say...well come to think of it ...a lot more. Check out this video!!!!

reply to post by David9176


Bravo!

To all, part 2 of the video posted just above. This is only 2 minutes...but well worth it!

I dont know who did the draw downs but I think this is what they are up against.


On sept 15 2008 the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occured over the period of an hour or two before they were able to close down the accounts. If they had not done so then by 2 pm it would have been over 5 trillion and would have collapsed the US economy , within 24 hours the world economy would have collapsed


www.youtube.com...

[edit on 10-3-2009 by Reevster]

A few weeks ago, McCain was talking about the need to nationalize some smaller banks...now he is saying ...let them fail.

He makes my head spin...it is like he is always talking out of both sides of his mouth!

Shelby and McCain To (Some) Banks: Drop Dead

A couple of weeks ago, Sen. Richard C. Shelby (R-Ala.) and Sen. John McCain (R-Ariz.) were talking about nationalizing America’s weaker big banks. Now they just want to kill them, according to their comments on weekend news shows.

Shelby told ABC’s George Stephanopoulos on Sunday that he doesn’t think a middle-of-the-road approach from the Obama administration to the banking crisis would work. “I think they’ve got to close some banks,” he said, according to the network’s transcript. “They don’t want to do it. We’re—we’re going down the same road Japan was going down….I don’t want to nationalize them. I think we need to nationalize them.” Stephanopoulos asked Shelby what he meant by “close,” and Shelby replied: “Close—close them down, get them out of business. If they’re dead, they ought to be buried.”

www.americanbanker.com...