tag:blogger.com,1999:blog-5724181159639068489.post5924832134019792318..comments2023-11-05T05:09:14.089-05:00Comments on Goldman Sachs: Information, Comments, Opinions and Facts: Goldman Sachs Links and News - March102, 2010 - with Larry's CornerRobertMhttp://www.blogger.com/profile/03960912417983904202noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5724181159639068489.post-2817375432676485582010-03-13T15:56:45.949-05:002010-03-13T15:56:45.949-05:00The fact remains that on Thursday, September 18th,...The fact remains that on Thursday, September 18th, the US financial system almost completely collapsed. The details of that day remain frustratingly murky. The imminence of complete disorder seemed to scare Congress into action, but we can only piece the story together through random anecdotes that have been partially revealed through subsequent interviews. In what has been dubbed ‘the Kanjorski meme’, Congressman Paul Kanjorski recounts a meeting that was held between Ben Bernanke, Henry Paulson and certain members of Congress where the conception of the "Troubled Asset Relief Program" (TARP) supposedly took place. To stem the flow of money out of US-based money market funds, Paulson had to provide an almost instant guarantee on all money market funds held within the US. Kanjorski recounts, "If they had not done that, their estimation was that by 2pm that afternoon (September 18th), $5.5 trillion would have been drawn out of the money market system of the United States, [which] would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed. We talked at that time about what would happen if that happened. It would have been the end of our economic system and our political system as we know it."7 Further details of these meetings have been provided by Senator James Inhofe, who recounted that Paulson had warned of martial law and civil unrest if the TARP bill failed.8 It is interesting to note that while Henry Paulson mentions several meetings that took place on September 19th in his book, the discussion of ‘imminent financial collapse’ and ‘martial law’ was noticeably absent. <br /><br /><br /><br />http://tinyurl.com/y8jhnonAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-85245492156973852802010-03-13T14:09:13.538-05:002010-03-13T14:09:13.538-05:00Listen...
In this interview Bill discusses the st...Listen...<br /><br />In this interview Bill discusses the stock market, corruption inside our banking system and government, the king player in the derivatives world, lessons learned as a fund manager, Ponzi schemes gone bad, latest antics of the Federal Reserve and more.<br /><br /><br />http://tinyurl.com/yjptoe3Anonymousnoreply@blogger.com