Thursday, February 12, 2009

A truly terrifying video of a US Representative describing what Paulson and Bernanke told the House

USA was 3 hrs away from Economic, Political Collapse in September 2008

Not sure if this has been posted before but I found it truly terrifying: " I was there when the secretary and the chairman of the Federal Reserve came those days and talked to members of Congress about what was going on... 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 a tune of $550 billion being drawn out in a matter of an hour or two. The Treasury opened up its window to help. They 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 "

Posted by davet @ 12:34 PM (1670 views)
Please complete the required fields.



5 thoughts on “A truly terrifying video of a US Representative describing what Paulson and Bernanke told the House

  • Wow that’s a video worth watching.

    Reply
    Please complete the required fields.



  • Lord Darcy Pew says:

    Aren’t democracies a wonderful thing, it’s citizens get to make informed decisions based on the information available to them. Meanwhile back on planet Earth we only have elected dictators. No truth, No hope.

    Reply
    Please complete the required fields.



  • double wow!!!…incredible

    Reply
    Please complete the required fields.



  • Yes I have seen this video,also read a similar article some time ago posted as a link on this site,I’m sure.
    Opening sequence with the woman complaining about the cost of utility bills is probably one of the biggest causes of defaulting. People forget the cost of running a property and are, how shall I say: ‘coaxed’ into believing they only have to meet the mortgage requirements.
    Energy and food are considered manageable…….Not so…….They are essential.
    Anyhow, all part of the root of the problem. So it seems logical to stimulate production and not banks.
    What was about to happen to the banking system has been stalled,not cured and as the debt continues to build,because it does if it’s not cleared,we have the same problem looming overhead on an even bigger scale.

    Reply
    Please complete the required fields.



  • Thats because Goldman Sach’s was planning to withdraw the money. Its called economic terrorism.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>