Did Bush tonight just try to create a bank run tomorrow?

[LibertyEagle]

I just listened to his speech again and I really wonder.

[matthylland]

any links?

[RonPaulVolunteer]

a bank run will cause a total collapse

[thomaspaine23]

a bank run will cause a total collapse

That is why WAMU has not folded yet. When it does the FDIC fund will be wiped out.....

Bank downgraded to "E" a couple days ago.... (I had no idea there WAS an "E")

[LibertyEagle]

any links?

It was on TV. Did you miss it or something?

[FreeMarketEconomy]

I just listened to his speech again and I really wonder.

huh???

[RonPaulVolunteer]

It was on TV. Did you miss it or something?

MANY of us here do not watch TV.

[DeadtoSin]

I don't have cable anymore.

[ihsv]

Btw, anyone find a youtube of it yet?

[Original_Intent]

LE, it made me glad I already cleaned out my accounts (today).

Tomorrow is shopping day - damn, they had to pull this shit with cold weather coming on too. :( So it's not just food and shelter we have to worry about it's food, shelter and HEAT (at least for most of the country.

Maybe it will help Florida real estate recover...:rolleyes:

[Indy Vidual]

Did Bush tonight just try to create a bank run tomorrow?

I just listened to his speech again and I really wonder.
The MSM has been saying "it's as bad as the Great Depression"


If this wasn't such a serious crisis it would almost be funny:
Are the majority of Americans are so clueless that we need the Pres to try to create a bank run tomorrow?
Can't 'average people' watching the news see the whole system is on terminal life support??

[RonPaulVolunteer]

Where's the speech?

[Drknows]

i was thinking the same thing.


Text of President's speech
http://www.marketwatch.com/news/story/full-text-president-bushs-address/story.aspx?guid={0E6250D5-E576-421A-827F-0A453CBE2648}
youtube is down right now so i dont think anyone can upload.

[RonPaulVolunteer]

http://www.marketwatch.com/news/story/full-text-president-bushs-address/story.aspx (http://www.marketwatch.com/news/story/full-text-president-bushs-address/story.aspx?guid={0E6250D5-E576-421A-827F-0A453CBE2648})

[amonasro]

The MSM has been saying "it's as bad as the Great Depression"


If this wasn't such a serious crisis it would almost be funny:
Are the majority of Americans are so clueless that we need the Pres to try to create a bank run tomorrow?
Can't 'average people' watching the news see the whole system is on terminal life support??

I think the many, many Americans woke up to the reality of it tonight after Bush's speech. I wouldn't be surprised if there were many more people taking money out of banks tomorrow.

[Drknows]

this is the part that really struck me as strange.


The Treasury Department recently offered government insurance for money market mutual funds. And through the FDIC, every savings account, checking account, and certificate of deposit is insured by the federal government for up to $100,000. The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit -- and this will not change.

why even bring that up?

[JosephTheLibertarian]

I just listened to his speech again and I really wonder.

Well, wonder to yourself.

just kidding lol :o

[DirtMcGirt]

This administration plays the fear card once again, such a tired act... Yeah the market is fucked up but the one thing hard working Americans care about is their cash, so his fear speech about the markets could very well cause a few bank runs...

[sidster]

That is why WAMU has not folded yet. When it does the FDIC fund will be wiped out.....

Bank downgraded to "E" a couple days ago.... (I had no idea there WAS an "E")

"E"? I think you mean "B". Down from "BB"

http://network.nationalpost.com/np/blogs/fpposted/archive/2008/09/24/dbrs-downgrades-washington-mutual-inc.aspx

[tomveil]

It would make sense.

More panic > easy passage.

[eric_cartman]

i thought that in order to have a bank run, you actually have to have money in the bank?

it looks to me like a lot of americans are in debt or have very little savings... the money they are spending now is on credit cards, not debit cards.

but that's an exaggeration, i know there are still plenty of responsible americans who have money saved, and they may soon realize that their money is not safe.

[Mahkato]

i thought that in order to have a bank run, you actually have to have money in the bank?

People just think they have money in the bank.

[sidster]

People just think they have money in the bank.

there was a lady interviewed by the news when
indymac was closed. she went there and stood
in line at 5AM. During the interview she mentioned
that she only had $60 in the bank :D She was even
laughing at herself at that point.

[Feelgood]

El Presidente's speech...bring your barf bag.

http://ronpaularchives.net/play.php?vid=107

[Micah Dardar]

El Presidente's speech...bring your barf bag.

http://ronpaularchives.net/play.php?vid=107

That was not very convincing. Hmmm..... "take $700 billion taxpayer dollars" NO!

Most hard working people probably got pissed off enough at that point. I'm glad he said it somewhat early on.

Bye Bye Miss American Pie
Drove My Toyota To The Levee That Never Existed

[jbuttell]

It would make sense.

More panic > easy passage.

Good observation ;)