[lbo-talk] Apocalypse Averted, But Trouble Ahead

[dredmond at efn.org]

Congressman Jankorski (Dem from Pennsylvania) feels the heat from a
caller, and spills the beans (kudos to Daily Kos for pointing out this
link):

http://www.youtube.com/watch?v=INAGMSARPYw

Around 2:08 into the video, he describes a massive electronic bank run on
the US financial system on or around September 15, which was just barely
nipped in the bud by the Federal Reserve.

This may well be true. Bloomberg's chart of the TED spread, one of the
best indicators of credit stress in the world economy, shows the spread
skyrocketing from an atrocious 1.35635 on Sept 12 to a cataclysmic 2.01376
on Sept 15:

http://www.bloomberg.com/apps/cbuilder?ticker1=.TEDSP%3AIND

-- DRR