3 ms·

$40b was withdrawn Friday morning. If that’s not a run, I don’t know what is.

• twelve40 4y ago
  the run was a consequence of the bank's mismanagement, not the cause
  • ummonk 4y ago
    Without the run there is a decent chance that the bank would have been able to complete its stock offering, recapitalize, and remain in operations despite past mismanagement. So while information about the mismanagement is what caused observers to trigger a run on the bank, it was the run itself that did it in. Now there is risk of contagion where better managed regional banks are also at risk of suffering runs on the bank.
    • twelve40 4y ago
      sure, a restaurant that serves rotten food could have fired the chef and reinvented itself if it wasn't for all the pesky customers who stopped going there