2008 US dollar Speculative Attack: Difference between revisions
wikademia>Verne Equinox AfD: Nominated for deletion; see Wikipedia:Articles for deletion/2008 US dollar Speculative Attack (2nd nomination) |
wikademia>ReverendWayne Took out a dead link to YouTube video which had been removed as TOS violation |
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{{article issues|essay-like=March 2009|refimprove=March 2009|unencyclopedic=March 2009|orphan =February 2009|orphan =April 2009}} | {{article issues|essay-like=March 2009|refimprove=March 2009|unencyclopedic=March 2009|orphan =February 2009|orphan =April 2009}} | ||
On [[September 11]] [[2008]], according to Rep. [[Paul E. Kanjorski]], a speculative attack against the US dollar was launched. During a closed doors session of Congress, Chairman of the Federal Reserve [[Ben Bernanke]] revealed that there had been a $550 billion dollars electronic money market run on US banks. The [[Federal Reserve]] and [[US Treasury]] attempted to halt the run on the dollar by pumping $150 billion dollars into the economy, but was unsuccessful in doing so. It was then decided by the [[US Treasury]] to close the accounts to finally halt the attack and avoid a massive bank collapse. | On [[September 11]] [[2008]], according to Rep. [[Paul E. Kanjorski]], a speculative attack against the US dollar was launched. During a closed doors session of Congress, Chairman of the Federal Reserve [[Ben Bernanke]] revealed that there had been a $550 billion dollars electronic money market run on US banks. The [[Federal Reserve]] and [[US Treasury]] attempted to halt the run on the dollar by pumping $150 billion dollars into the economy, but was unsuccessful in doing so. It was then decided by the [[US Treasury]] to close the accounts to finally halt the attack and avoid a massive bank collapse.<ref>http://cspan.org/Watch/watch.aspx?MediaId=HP-A-14757 start about 22:45 into the video.</ref><ref> http://finance.yahoo.com/tech-ticker/article/63515/Americans%27-Money-Safer-Today-as-Govt.-Guarantees-Money-Market-Funds?tickers=BAC,F,MS,mer,leh,wm,wb</ref> | ||
The origins of the attack are currently unknown. | The origins of the attack are currently unknown. | ||
Revision as of 13:21, 7 August 2009
On September 11 2008, according to Rep. Paul E. Kanjorski, a speculative attack against the US dollar was launched. During a closed doors session of Congress, Chairman of the Federal Reserve Ben Bernanke revealed that there had been a $550 billion dollars electronic money market run on US banks. The Federal Reserve and US Treasury attempted to halt the run on the dollar by pumping $150 billion dollars into the economy, but was unsuccessful in doing so. It was then decided by the US Treasury to close the accounts to finally halt the attack and avoid a massive bank collapse.[1][2]
The origins of the attack are currently unknown.