In late 2008 Democrat Congressman Paul Kanjorski accidentally lifted the curtain that normally hides the Wizards of Oz in the Federal Reserve and US Treasury. Go to the 2 min point in the video, he says that he was there when the Security of the Treasury (Hank Paulson) and the Fed Chairman (Ben Shalom Bernanke) on the Sep 15th (Mon 15th Sep 2008) went to members of Congress to explain what was going on. He says “here's the facts, and we don't even talk about these things, on Thursday at about 11 o'clock (looking back at the 2008 calendar the Thursday was 11th September)
A summary of what he goes onto to say is:
"The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically.
The treasury tried to help with $105 Billion.
But could not stem the tide.
It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawn and collapsed and within 24 hours the world economy."
Subsequently on the 19th of September Hank Paulson announced publicly that he needed $700 billion to save the banking system from collapse. When his plan was met with public outrage and general congress revolt Hank Paulson had a closed door meeting with Congress after which most members of Congress voted for the Paulson plan. It has subsequently been reveled, from several sources, that Hank Paulson threatened the imposition of Martial Law if his bank bailout plan was not passed immediately.
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