GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Bernanke said "it would have been the end of our economic system as we know it"

ADL Colin · 02-09-2009, 08:29 AM

Here were the real numbers. About 1/5 of what the Congressman said. About a 3 1/2% drop. One wonders what Bernanke and Paulson really said. maybe they said on the worst day that "If this continues at this pace for a week there could be $500 billion in withdrawals". Those certainly were frightening days for the credit markets and the financial system in general. At least a few people on GFY thought there was going to be "an uprising".

SAN FRANCISCO -- After one of the biggest money-market mutual funds broke the $1 per share benchmark and the Treasury pledged to insure money-fund assets, investors pulled a record $120.5 billion from 1,860 taxable and tax-exempt funds during the week ended Sept. 23, according to Money Fund Report, a service of iMoneyNet of Westborough, Mass. Total industry assets declined to $3.3 trillion, as both taxable and tax-free funds saw unprecedented one-week redemptions. Taxable institutional funds dropped by $95 billion during the seven-day period. One bright spot: Taxable retail funds, which added $3.6 billion. Tax-free fund assets, meanwhile, fell by $29 billion to $486.4 billion.

02-09-2009, 08:29 AM
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	Here were the real numbers. About 1/5 of what the Congressman said. About a 3 1/2% drop. One wonders what Bernanke and Paulson really said. maybe they said on the worst day that "If this continues at this pace for a week there could be $500 billion in withdrawals". Those certainly were frightening days for the credit markets and the financial system in general. At least a few people on GFY thought there was going to be "an uprising". SAN FRANCISCO -- After one of the biggest money-market mutual funds broke the $1 per share benchmark and the Treasury pledged to insure money-fund assets, investors pulled a record $120.5 billion from 1,860 taxable and tax-exempt funds during the week ended Sept. 23, according to Money Fund Report, a service of iMoneyNet of Westborough, Mass. Total industry assets declined to $3.3 trillion, as both taxable and tax-free funds saw unprecedented one-week redemptions. Taxable institutional funds dropped by $95 billion during the seven-day period. One bright spot: Taxable retail funds, which added $3.6 billion. Tax-free fund assets, meanwhile, fell by $29 billion to $486.4 billion. __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"