World economy almost “destroyed” in “the span of an hour” last year

April 3, 2009


The caller is less interesting at the beginning is less interesting than the story Rep. Kanjorski tells, starting about 2 minutes in, about being threatened with “total global economic collapse” by Hank Paulson if they didn’t immediately hand over the $900 billion, no questions asked. I remember when this happened of course, bu I have never heard so much detail before. The entire world economy can be “destroyed” within the span of an hour by a few people withdrawing from their money market accounts? Isn’t this what Camille Paglia refers to as “the thin veneer of civilization”?

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