Lets face it. We've been had. We're in a serious depression. Thank you capitalism. We believed in you. We were told it was our patriotic duty. And now we learn about the run on the banks in September, 2008, that was never reported in the media. We learn that the government just pull the switch on the massive ATM withdrawal of banking assets to prevent the end of the US economy followed by the collapse of the world economy and sheer anarchy. Astounding!
And the %$#*&^ Republicans want to keep cutting taxes and deregulating? What is wrong with these mad men?!
In the video below get past the frustrated caller. The facts come out at about 2 minutes and 20 seconds into the clip. Representative Kanjorski says:
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."
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