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economic justice | government

Electronic Run On Banks

On Thursday 2/12/2009 there was an electronic run on the banks for 550 billion dollars in money market certificate of deposits returns. This was revealed during an interview with Paul Kanjorski, D-Representative 11th District Pennsylvania, Capital Markets Subcommittee Chairperson, regarding the House economic stimulus package on C-SPAN Washington Journal.
On Thursday 2/12/2009 there was an electronic run on the banks for 550 billion dollars in money market certificate of deposits returns. The Federal Reserve had to stop the electronic run and then went to congress for more bail out / guarantee money. This was revealed during an interview with Paul Kanjorski, D-Representative 11th District Pennsylvania, Capital Markets Subcommittee Chairperson, regarding the House economic stimulus package on C-SPAN Washington Journal. See the video before it's gone and censored.

The admission of a run on the banks occurs at 2 minutes and 20 seconds into the video interview

A copy of the video can be viewed at  http://www.brasschecktv.com/page/559.html

The big guys have made a run on the banks and got away with 550 billion dollars. If common private citizens were to make a run on the banks it would be countered with a show of police or military force.