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Congressman: US came within hours of economic collapse; Banks saw $550 billion withdrawn in 2 hours

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Uploaded on Feb 14, 2009

Page10.org - "The Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to a tune of $550 billion being drawn out in a matter of an hour or two. If they had not (acted) their estimation was that by two o'clock that afternoon, $5.5 trillion would have been drawn out of the money market system of the United States, would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed."

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