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Jul - News - USA was 3 hours away from Economic, Political Collapse in September 2008 New poll - New thread - New reply
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Posted on 02-10-09 10:32:12 AM Link | Quote
According to Rep. Paul Kanjorski (D) (PA-11), in mid-September of 2008, the United States of America came just three hours away from the collapse of the entire economy. In a span of 2 hours, $550 billion was drawn out of money market accounts in an electronic run on the banks.

Rep. Kanjorski: "It would have been the end of our economic system and our political system as we know it."

Article (DailyKos)

It's pretty amazing to think about.
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Posted on 02-10-09 02:30:36 PM (last edited by Peardian at 02-10-09 11:31 AM) Link | Quote

Wow, that's kind of scary. I can't imagine what would it would be like if it had actually happened.




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Posted on 02-10-09 03:54:42 PM Link | Quote
Wow. No wonder this was kept under wraps, it'd be mass panic.

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Posted on 02-10-09 03:59:25 PM Link | Quote
This is only one man's take on it. I wouldn't trust it too much. Some portions might be exaggerated and such. Hopefully now that the story's out, news sources will pick it up and do some research on it.

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Posted on 02-10-09 05:39:00 PM Link | Quote
It might've been kept under wraps for the public but it might've been pressure towards Bush to push for more motion on stimulus and bailing people out. Right after that date, there were a bunch of bank bailouts.

Another question...who the hell was withdrawing all of that money? Who the hell who need that amount of money for whatever purpose?

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Posted on 02-10-09 08:00:54 PM Link | Quote
Originally posted by Fajita-chan
This is only one man's take on it. I wouldn't trust it too much. Some portions might be exaggerated and such. Hopefully now that the story's out, news sources will pick it up and do some research on it.

You give the media too much credit.
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Jul - News - USA was 3 hours away from Economic, Political Collapse in September 2008 New poll - New thread - New reply


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