Monday, October 17, 2011
Now We See Fear
Having now watched several more of the arrests and threats of arrest as people attempt to close their accounts at a variety of Big Banks I can see what the fear is. This is very, very clear now. A run on the banks would be a major problem. The banks are not able to handle that much cash out flow and still serve their daily transactions. It has the horrific possibility of closing our banking system down. More than any other single idea this one gets a lot of attention.
Afraid of shutting the banks down is the same as shutting the country down. The odd equalizer in this is that the largest companies would be MORE affected than the smallest among us!! If they cannot make the normal transactions due in a day there will be a bank holiday declared in a heartbeat!! We haven't seen one of those in a long, long time. It was the 1930's when this last happened and it took years to dig out from the occurrence.
BoA Needs a Makeover!!
Rolling Stone article that gets very close to saying it exactly.