Free Republic 1st Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $87,668
Woo hoo!! And now less than $400 to go!! Thank you all very much!!

Keyword: runonbanks

Brevity: Headers | « Text »
  • Latest Schultz Shock: a 'bank holiday'

    06/24/2009 6:58:35 AM PDT · by FromLori · 40 replies · 2,583+ views
    Market Watch ^ | 6/24/09
    NEW YORK (MarketWatch) -- The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style "bank holiday." But it's surprisingly sanguine about stocks -- in the (very) short term. The Harry Schultz Letter (HSL) was my pick for Letter of the Year in 2008 because it really did predict what it rightly called a coming "financial tsunami." But its performance in 2008 was still terrible, albeit arguably for technical reasons. ( See Dec. 28, 2008, column.) Now HSL has bounced back big-time. ( See April 13 column.) Over the year to date through May, it's...
  • Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks" ( Sept 15,2008)

    02/16/2009 6:42:56 PM PST · by Ernest_at_the_Beach · 99 replies · 3,309+ views
    LiveLeak ^ | Feb 7 2009 ( I believe) | Rep Paul Kanjorski Capital Markets Sub committee Chair
    At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occured over the period of an hour or two. Here is a transcript of what Kanjorski says in the video: "On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in...