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| Home Front Economy |
| September 15, 2008: The Day The World Economy Almost Collapsed |
| 2009-02-10 |
| Video, Rep Kanjorski, Capital Markets Subcommittee Chairman explains (at about 2:20), how there was a $550B electronic run on America's money market accounts, that unless congress acted immediately, by 2pm that day, it was estimated tthat $5.5T would be taken out of the US economy, causing a complete US and international economic collapse. If an individual or nation was responsible, that was the closest thing to an act of war imaginable. |
| Posted by:Anonymoose |
| #2 From a comment in the linked Boingboing thread: I think Rep. Kanjorski let something out on C-SPAN that the State would have rather kept secret. I'd wager that after the interview persons in the Treasury Secretary's office called his office in 2188 RHOB and gave his CoS an earful, trying to repair the leak in the dike. Thanks to Kanjorski--who as Capital Markets subcmte chair would learn about this kind of information--we intelligent, pitchfork-wielding peons now have another piece of the puzzle. |
| Posted by: Ricky bin Ricardo (Abu Babaloo) 2009-02-10 23:37 |
| #1 Why does George Soros' name keep running through my mind regarding this? |
| Posted by: Barbara Skolaut 2009-02-10 17:42 |