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Bank Run

Well if you thought that the old ladies pulling their money out of Countrywide was bad, just take a look at this one. Are people wanting to go back to the mattress piggy banks or what? I’m not sure how their banking system is as far as insurance(FDIC Equivalent), but the government said that they would back all deposits. If it gets that bad(not trusting the government), standing in line for your money is going to be the least of peoples worries. It should be interesting to see if the Fed cut today will alleviate some of the stress in the bond and credit markets. I think it’s all just fear, and has little to do with the fundamentals of the economy. Now the depression was a time when you actually had the fundamentals to back some of the fear, but some of these fear mongers crack me up.


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