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9 Comments
volumptuoussays...Kanjorski: "The Treasury opened its window to help. They pumped a hundred and five billion dollars into the system 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 down the money accounts, and announce a guarantee of $250,000 per account so there wouldn't be further panic and there. And that's what actually happened. If they had not done that their estimation was that by two o'clock that afternoon, five-and-a-half trillion dollars would have been drawn out of the money market system of the United States, would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed."
"It would have been the end of our political system and our economic systems as we know it."
NetRunnersays...*fear
siftbotsays...Adding video to channels (Fear) - requested by NetRunner.
sepatownsays...http://www.portfolio.com/views/blogs/market-movers/2009/02/11/kanjorski-and-the-money-market-funds-the-facts
campionidelmondosays...*dead
siftbotsays...This video has been declared non-functional; embed code must be fixed within 2 days or it will be sent to the dead pool - declared dead by campionidelmondo.
siftbotsays...rasch187 has fixed this video's dead embed code - no Power Points awarded because rasch187's points are already fully charged.
notarobotsays...More comments here: http://videosift.com/video/The-US-economy-came-within-3-hours-of-no-longer-existing?noredirect
siftbotsays...19 more comments have been lost in the ether at this killed duplicate.
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