3 ms·
So, if a couple of banks collapse and many people lose confidence, then exactly who gets hurt and how? If a bunch of "morons" go pull their money out of a bank
by waterhouse 7y ago
So, if a couple of banks collapse and many people lose confidence, then exactly who gets hurt and how? If a bunch of "morons" go pull their money out of a bank, that might ruin the bank, but FDIC insurance is supposed to protect against the worst of that. What's the path that leads to the "entire US economy dying"?
- runawaybottle 7y agohttps://en.m.wikipedia.org/wiki/Great_Depression https://en.m.wikipedia.org/wiki/Great_Depression
- notriddle 7y agoYes, I think most folks here know what a back run is. The FDIC was instituted after the Depression specifically to limit the damage caused by bank runs.
- manigandham 7y agoBetter to avoid the damage in the first place.