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$550 Billion Electronic Run On U.S. Banks Nearly Triggered Financial Collapse.Read on....At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occurred over the period of an hour and threatened a further $5 trillion to be drawn out triggering a total collapse of the Financial System, which prompted Hank Paulson's emergency $700 billion TARP bailout action.Now the day this happened I called my Mom in the USA from New Zealand. What did she say? "Honey, don't worry, the Federal Reserve just announced that they are increasing the FDIC insurance on each account from 100,000 (USD) to 250,000 (USD) so you just go out and have yourself a "flat white" and not to worry. By afteramerica : bank, hope, love

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