Financial Implosion
Lest we forget

CSPAN ... Rep Paul Kanjorski Reviews the Bailout Situation

Burgess COMMENTARY

Peter Burgess

CSPAN Rep Paul Kanjorski Reviews the Bailout Situation

Kanjorski has since tried to make the same point several more times, and Kashkari as well, but no one is paying attention, see the following:

http://a1b5jj.blogspot.com/2009/03/confusion-in-ranks-tarp-prevented-total.html

NOTE - Kanjorski's recollection of the dates may be inaccurate. The NYT shows the bank run as happening on the 17th 18th not the 11th. Some have alleged a 911 connection making the bank run an attack on the nation, but the failure of Lehman seems to have triggered widespread panic which accounts for the bank run. Limbaugh asserted a George Soros conspiracy theory which is pretty laughable.

See this article:

http://www.nytimes.com/2008/10/02/business/02crisis.html?_r=2

also

http://a1b5jj.blogspot.com/2009/03/911-connection-to-september-2008-bank.html

Wow, the nation's #1 bloviating traitorius demagogue, Rush Limbaugh played this very clip on his 2/10/09 show and has a direct link to it on his website!!!! No wonder it got 30,000 hits in one day!

Also, Olbermann used this clip on his 02/10/09 show, maybe after hearing it on Limbaugh's show. Olbermann's guest commentator was skeptical about Kanjorski's accuracy on the 550 billion number.

Now quite a few news sites have links to this clip.

At least, as far as I can tell the clip I posted is the only one on Youtube (though it has been cloned a few times via LiveLeak), and Olbermann featured a Youtube version which very likely is the same one I posted! WhoooHoooo!

in response to the usual CSPAN hysterical caller, Rep Kanjorski gives his perspective on the bailout, it is especially interesting to hear how the money market drawdown threatened to collapse the entire world economy in 24 hours back in the fall of 2008, which was the motivation for the first 350 billion.