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Wednesday, February 11, 2009

Final Act -- Thursday; Atlas Shrugs a little More

"I'll Take my Answer off the Air, Thank you very Much!!!"

List of Players --
Rep. Paul Kanjorski of Pennsylvania
Treasury Secretary Paulson and
Fed Chairman Bernanke
"HE"

[Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically.]

Paulson: Bernie, pump in $150 billion... I'll make the phone call.

[The Treasury tried to help, opened their window and pumped in $150 Billion but quickly realized they could not stem the tide. We were having an electronic run on the banks. ]

Bernanke: Ok, pumping it in now. Will it avert catastrophe?

Bernanke: [Later] No deal, it isn't working... what did "HE" say, Paulie?

Paulson: "HE" said close down the accounts.

[So they decide to close down the accounts. ]

Bernanke: Bankers' Holiday, Paulie?

Paulson: Yep. My finger is a little sore from pushing those buttons this morning. I think I'll get a mani -- you want to join me, Bernie?

Bernanke: Sure.

[Three Months Later in a Live Leak]

Paul Kanjorski: We're not the experts on the Hill, but we gave wide berth to the Treasurer to buy up Toxic Assets. [SOURCE]

Phone caller: What the hell are you on about? Do you mean I can't pay my bills because you guys gave the Treasurer a wad of my money to keep the banks from collapsing?

Kanjorski: Had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawn and the entire economy of the United States would have collapsed, and within 24 hours the world economy would have collapsed.


Next Caller please? Go ahead --

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5 comments:

Pribek said...

It's all pretty stunning isn't it?

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

To which, I logically respond with; and...?

A mass movement requires certain ingredients in a certain order:
1. Men of words
2. Fanatics (true believers, willing to fight and/or die for the cause)
3. Men of action
4. Skilled administrators to facilitate after the romanticism fades

Term limits (stateside), as is (no reform), make mass movement difficult to impossible on a National level but, frustrated citizens (like caller in the video) make Jim Dandy true believers, no?

Just thought I'd throw that out to you Moop as I know you're looking a little deeper. Cold be some brackish water we are fixin' to cruise through.

I believe it was Redd Foxx who said; "Wash yo dirty assets!"

February 11, 2009 at 8:32:00 AM CST
Anonymous said...

I put in $100 worth of comments into this blog and in only 15 minutes they weren't worth 2 cents. Are you the guy managing my retirement account?

February 11, 2009 at 1:55:00 PM CST
MooPig said...

If two trains leave Boston on time headed southwest, and three trains leave Chicago headed east, one left on time, one is 15 minutes late, and the third is stalled behind the late train.... and all five trains are carrying a King's ransom in gold bullion, so that:

they converge on Washington, DC, -- what is the outcome?

That is precisely what we are all asking.

February 12, 2009 at 4:31:00 AM CST
MooPig said...

Oh, errr, Dr. J, we can validate your parking... errr, uh. -- or call you a Taxi?

February 12, 2009 at 4:34:00 AM CST
MooPig said...

"Just thought I'd throw that out to you Moop as I know you're looking a little deeper."

Hey, it takes a lot of effort to "keep up," no? I mean trying to determine who is playing at what... anticipating good news that never comes from following the "green."
I think this bucket has finally hit water in this old drying up well. I hear a splash... but the drought has already taken the fatted calf's life, and there's no hay to cut.
Nothing but "brackish water" to drink.

February 12, 2009 at 4:45:00 AM CST

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