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you're literally blaming the prisoner in a prisoner's dilemma. it makes no sense to bet with 0.7:1 odds that only a few times above normal withdrawal volumes wi
by collegeburner 4y ago
you're literally blaming the prisoner in a prisoner's dilemma. it makes no sense to bet with 0.7:1 odds that only a few times above normal withdrawal volumes will actually occur. that is a shitty be to make, especially since every time people do, it usually works out against them.
we can opine about how to resolve confidence and coordination issues but you can not go victim-blame people who just don't wanna get fucked over.
one of the core values banks provide is confidence and peace of mind. if my bank can no longer provide that, i am full sending my cash somewhere else.
- paulgb 4y agoNo, I’m not blaming them at all! In retrospect they made the right move. Companies that moved funds early had a duty to their employees and investors, and did right by them. I do, though, worry about the message it sends to say that everyone who didn’t flee is SOL. Fortunately, the fed seems to have played the same scenario out and did the right thing.