http://www.liveleak.com/view?i=ca2_1234032281 Did The World As We Know It Almost End Last September? By Gene Mueller Story Created: Feb 11, 2009 http://www.620wtmj.com/shows/genemueller/39421372.html?blog=y What were you September 18, 2008? Did you have any clue that the world was on the cusp of ending? Pennsylvania Congressman Paul Kanjorski is the number two guy on the House Banking committee and had a front row seat as to what was going on with the nation's economy in the days after the Lehman Brothers' demise--one of the first events in the ongoing fiscal nosedive we now find ourselves in. Kanjorski told a pretty frightening tale on C-Span's "Washington Journal" late last month--a show seen by but a handful of hard core news junkies. The video starts slow, but gets juicy about 90 seconds in, when he's asked why Congress okayed last fall's $700 billion dollar bailout package. http://townhall.com/columnists/DianaWest/2009/02/12/who_attacked_our_economy_why_does_no_one_care?page=full&comments=true Who Attacked Our Economy? Why Does No One Care? by Diana West I want you to read something. It's a snatch of transcript from a Jan. 27 C-SPAN interview with Rep. Paul Kanjorski, D-Pa., that has received zero coverage in what we think of as the mainstream media. To set the C-SPAN scene, Kanjorski is harkening back to the middle of last September, when, as it happens, John McCain was enjoying his brief lead in the presidential polls and the economy as we knew it was imploding. Here's what Kanjorski said: "I was there when the Secretary (of the Treasury Hank Paulson) and the Chairman of the Federal Reserve (Ben Bernanke) came those days and talked to members of Congress about what was going on. It was about Sept. 15. Here's the facts, we don't even talk about these things. "On Thursday at about 11 o'clock in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of $550 billion, as being drawn out in the matter of an hour or two. "The Treasury opened up its window to help. It pumped $105 billion 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 out there, and that's what actually happened." Kanjorksi continued: "If they had not done that, their estimation was that by 2 o'clock that afternoon, $5.5 trillion would have been drawn out of the money market system of the United States, would have collapsed the entire economy system of the United States and within 24 hours the world economy would have collapsed. "Now we talked at that time about what would happen if that happened. It would have been the end of our economic system and our political system as we know it. And that's why when they made the point we've got to do things quickly, we did." These are staggering revelations. (Watch them yourself here.) Given their sudden appearance out of the blue, you have to wonder, first, could they possibly be true? If so, why weren't we the people told about this $550 billion electronic run on the banks? And why haven't we heard a word of it since? Even since Kanjorski spoke on C-SPAN last month, there has been scant MSM coverage. The story's biggest exposure came when Rush Limbaugh played the audio and analyzed it on the air this week. Otherwise, the story has been little more than blogfodder, appearing at places such as Politico.com and the Economist blog with little comment. Writing at Portfolio.com this week, Felix Salmon quite decisively dismissed the whole story as "fiction." Is it? If what Kanjorski says is "fiction," Americans, particularly Americans in Kanjorski's 11th district of Pennsylvania, need to know. After all, this isn't a story that just goes away on its own, particularly not when Paul Kanjorski is chairman of the Capital Markets Subcommittee of the House Financial Services Committee. Of course, incredible as Kanjorski's revelations were, almost equally incredible was the interviewer's failure to ask the next obvious question of national interest: Who or what was responsible for that electronic run on the banks "to the tune of $550 billion"? That's where Limbaugh went with the story. "Now, let's assume for a second here that elements of this are true," Limbaugh said of Kanjorski's statement. "Let's assume that there was a $550 billion ... electronic run on the banks and money market accounts in one to two hours. The question is who was doing this? Who was withdrawing all this money? And the next question is why? That's where my mind starts exploding, and this is dangerous to have these explosions going this way. Could it have been George Soros? Could it have been a consortium of countries -- Russia, China, Venezuela -- countries that are eager to have Barack Obama elected because they know that will make it easier for them to continue their own foreign policies in the world?" I've heard serious people float similar theories regarding financial attacks on our economy emanating from the Middle East, but again, who knows? One thing we do know is that former President Bush made extremely cryptic public statements regarding the stability of our markets at this time in question last September, statements noted by Accuracy in Media's Cliff Kincaid. These began with a Sept. 18 Bush announcement that the Securities and Exchange Commission (SEC) was stepping up its enforcement action "against illegal market manipulation." As Kincaid wondered, manipulation "by whom or what? The President didn't say." On Sept. 19, President Bush further announced that the SEC had "launched rigorous enforcement actions to detect fraud and manipulation in the market. Anyone engaging in illegal financial transactions will be caught and persecuted (sic -- good ol' W.)." Again, what was Bush talking about? On that same day, Kincaid reports, "the SEC announced a `sweeping expansion of its ongoing investigation into possible market manipulation in the securities of certain financial institutions.'" Why? What was going on? If ever there was a vital, compelling reason for congressional hearings, Kanjorski's "electronic run on the banks" story is it.
http://www.federalreserve.gov/newsevents/press/monetary/20080918a.htm http://www.sec.gov/rules/other/2008/34-58592.pdf http://atlasshrugs2000.typepad.com/atlas_shrugs/2009/02/9112008-catastrophic-financial-terrorist-attack-caused-economic-meltdown.html Thursday, February 12, 2009 9/11/2008 CATASTROPHIC FINANCIAL TERRORIST ATTACK CAUSED ECONOMIC MELTDOWN The recent bombshell that Rep. Kanjorski dropped gets bigger and bigger. Atlas reader Suzanne picked up on a mindblowing "detail" in my blog post: "RIGHT BEFORE THE ELECTION OF PRESIDENT HUSSEIN: "A $550 Billion Electronic Run on the Banks". Paul Kanjorski describes the closed door session of Congress where it was revealed that there was a $550 billion electronic run on the banks and that was what caused the economic crisis. In the video, Kanjorski says this occurred on Thursday, September 15, 2008. September 15th was a MONDAY. THURSDAY was .......SEPTEMBER 11, 2008 This was a Financial Terrorist Attack on the seventh anniversary of 9/11. Aren't the American people entitled to know who was behind the run on the banks? Why was this kept from the American people before the most important election in US history? And why did Obama treat it as an unimportant incident - accusing McCain of grandstanding when McCain left the campaign trail and flew to Washington? Remember what President Hussein said? "They'll call me if they need me." FLASHBACK: "Call me if you need me" When President Hussein was campaigning and the "economic crisis" hit, he did not think it pressing enough to leave the campaign trail, but now we should push through a trillion dollars in legislation without oversight because a few weeks later the King deems it urgent? The financial crisis was deliberate, planned, staged. Who made the run? "Someone threw us in the middle of the Atlantic ocean without a life raft. We are trying to determine which is the closest shore and whether there is any chance in the world to swim that far. We don't know."
Ok whatever just remember it was earlier in June I believe that year that Chuck Schumer caused the biggest run on a bank in the history of the nation. He was censured by the ..... ah what ever commission was going to say FCC. A few hundred billion inside of a few hours is an organized attempt to create panic in the market and manipulate. The only people big enough to pull it off. Soros and friends, or some country i.e. China, Russia.
I thought you Americans would realise it would take more than a pissy $550 billion to affect the American economy? Or are you all piss and wind and your economy not near as strong as you though? I mean, come on! By country economy standards, $550 billion is almost pocket change. Your government will spend that on a few aeroplanes! It was due to the banking sector's greed, pure and simple. Trillions in toxic assets and shit like that brought down the American economy, not fucking terrorists. Terrorists are to blame for my missing underwear too.
Well you make some valid points but the banks were forced to make bad loans ala Community Reinvestment Act AKA CRA. A Carter project expanded by Clinton. Bush asked congress to fix it and they did not. McCain tried to fix it and the Democrats blocked him.
Do your research you will see and when you do you need to know the liberals being the revisionist historians are trying to point to the Steegal Glass [sp] deal but that's a red herring because were it not for CRA there would not have been a need for the latter.
I am not liberal: I vote Independent. I think all politicians are wankers. I just think the whole TERRORISTS causing this is complete crap, and with so little money, mind you.
Not sure I would point a finger at al-Qaeda or something like that. More of an organized state sponsored thing possibly. I would not rule out an organized muslim thing though.
no, thank you for the offer but you're not my type. I prefer post pubescent women. you need to get some sleep and try not to take this shit as seriously as you apparently are.
I just don't like the creepy way you're following me around the forum suddenly, with your immature posts. I mean, honestly "part kangaroo"? That's something a PREpubescent would say. I liked it better when you didn't reply to my posts. Please do that again.
