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Old 09-17-2007, 10:52 AM   #1
Exclamation 4 Billion Run on Bank
KathrynHannah
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This is scary.
http://www.thestar.com/Business/article/257388

I didn't think this kind of thing could happen anymore. Reminds me of the scene from Mary Poppins. Be interesting to see how this effects the markets today.
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Old 09-17-2007, 11:08 AM   #2
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desertmom
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Does Britain have protection like we do with FDIC?

Some people don't realize that FDIC only covers up to $100,000, and not mutual funds. Some money market accounts are not covered. So spread your money around and ensure that you are covered. Remember the S&L debacle of the late 80s? People lost their life savings, IRAs because they didn't check for that.
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Old 09-17-2007, 12:01 PM   #3
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melsb
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It made me think of the Depression and I'm hearing that it is mostly older people withdrawing their money ... though if I was driving by my bank and saw such a large line of people in front of it, I think I would be tempted to go withdraw myself!
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