On 2/6/07, Zainab Bawa <[EMAIL PROTECTED]> wrote:
Just one single day. Not starting one day!
In the recent past it happened for not one, but three days actually, and of course not all money transfer stopped, but just the exchange of checks in the US. Right after 9/11 the grounding of all aircraft for 3 or so days had all the money meant for clearing houses sitting in warehouses. This led to the notional loss of trillions, and real loss of billions of dollars and cleared the way for a bill that had been stuck in limbo for ages, the Check 21 act. http://www.federalreserve.gov/paymentsystems/truncation/ Check Clearing for the 21st Century Act Cheeni
