Computer generated orders simultaneously withdrawing billions of dollars adding up to $550 billion within about an hour

The electronic run on banks nobody seemed to notice

By Mary Claire Kendall 01/15/10 at 12:09 am

Sixteen months after the 11 a.m. simultaneous withdrawal of billions of dollars out of money market accounts in the aftermath of Lehman’s demise a few days earlier, no one seems to care about the dimensions of this event.

After all, this catastrophic event did not have quite the physicality of say an actual bank run.

There were no investors standing in line waiting to take their money out for Americans to see just who they were—from what country, wearing what kind of clothes, honest or squirrelly looking, working in tandem with each other? Just computer generated orders simultaneously withdrawing billions of dollars adding up to $550 billion within about an hour.

And, certainly, if it were an act of economic terrorism, which no one seems to have the imagination or cojones to raise, the visual is not there. No Boeing 737 ramming into the Twin Towers, bursting into flames, innocent victims burning alive jumping out the windows to their death, prior to the buildings’ collapse into rubble.

But, make no mistake, this electronic run on the banks of Sept. 18, 2008, was every bit as catastrophic, with numerous victims.

Sure, it could be pure coincidence that exactly at 11 a.m. a wave of concerned investors all decided it was time to electronically withdraw their funds thus creating this crescendo drawdown effect setting in motion a worldwide panic.
It could be coincidence. But, it’s doubtful.

The fact that the identities of those who simultaneously decided to withdraw their money at 11 a.m. on Sep. 18, precipitating this panic, were never released, does lead one to question whether or not something sinister was at work.

Is there no one else with even the vaguest curiosity to ask if it was a coincidence or not? And, to suggest maybe an investigation is in order to deliver that vaunted “transparencyâ€