- Sep 19, 2011
- 28,703
- 10,238
- 900
So there never WAS a crisis but it was an invention of corporations, is that what you are saying? And that while the withdrawal of $0.5 Trillion was real, there
was NO need for it as it was an INVENTION by those evil corporations, stock managers, etc. Right?
So there never WAS a crisis
There was a crisis. Millions of mortgages defaulted.
Banks lost trillions. It was in all the papers.
And that while the withdrawal of $0.5 Trillion was real,
It wasn't. Kanjorski "heard that" from somebody. Never happened.
Maybe you need to check these out then!
By the morning of September 18, money market sell orders from institutional investors totalled $0.5 trillion, out of a total market capitalization of $4 trillion, but a $105 billion liquidity injection from the Federal Reserve averted an immediate collapse.[22][23] On September 19 the U.S. Treasury offered temporary insurance (akin to Federal Deposit Insurance Corporation insurance of bank accounts) to money market funds.[24] Toward the end of the week, short selling of financial stocks was suspended by the Financial Services Authority in the United Kingdom and by the Securities and Exchange Commission in the United States.[25] Similar measures were taken by authorities in other countries.[26] Some restoration of market confidence occurred with the publicity surrounding efforts of the Treasury and the Securities Exchange Commission[27][28]
Global financial crisis in September 2008 - Wikipedia
Each day, we will recap the events of the corresponding day in 2008, as the worst crisis in 80 years built to its terrible climax.
http://online.wsj.com/public/resources/documents/09182008tdich.pdf
Why do I need to check them out?
By the morning of September 18, money market sell orders from institutional investors totalled $0.5 trillion, out of a total market capitalization of $4 trillion, but a $105 billion liquidity injection from the Federal Reserve averted an immediate collapse.
^This is based on Kanjorski's silly claims.
The rest are facts that don't help his silly claims.
Because this is YOU!
View attachment 202601 View attachment 202599
Still looking for proof? LOL!
The market was 500 trades away from Armageddon on Thursday, traders inside two large custodial banks tell The Post.
Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level – a 22 percent decline! – while the clang of the opening bell was still echoing around the cavernous exchange floor.
According to traders, who spoke on the condition of anonymity, money market funds were inundated with $500 billion in sell orders prior to the opening. The total money-market capitalization was roughly $4 trillion that morning.
https://nypost.com/2008/09/21/almost-armageddon/