Meltdown2011 reports on what you weren't told on 9/11/2008.
What You Weren't Told on 9/11/2008
Posted on February 11, 2009 by Scott Gallup
Courtesy of CSPAN on Feb 6, 2009 a congressman from Pennsylvania reveals new info about what really happened last Sept 11, 2008.
This info has been kept from you until now.
9/11/2008 was four days AFTER the gov't bailed out Fannie Mae and Freddie Mac AND five days BEFORE the collapse of Lehman Bros and AIG [See History of the Meltdown...].
Rep. Paul Kanjorski of Pennsylvania explains how 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 occurred over the period of an hour or two starting at 11:00am.
The Fed intervened, closing access to the markets. They explained if they HAD NOT stepped would have been a $5 trillion "bank run" by 2:00pm that day. Bernanke and Paulsen claimed this would have collapsed the US economy that same day, a new "financial" 9/11.
My reaction: Have you ever wondered why lawmakers passed last year's VERY unpopular TARP bailout one month before the elections? What were lawmakers told in private to get them to vote "YES"?
Well, now we know: Lawmakers were told of a $550 billion draw-down in money market accounts, which might have turned into a $5 trillion dollar "bank run".