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OMG__Ponies OP t1_jbp1qct wrote

Reply to comment by SsurebreC in Dow sheds 300 points as Friday’s key jobs report looms ahead: Live updates by OMG__Ponies

Actually my money is in other banks. I know it is probably an unfounded fear, but . . . people might panic, and when they see this bank close, they will run on their banks, causing a cascade effect.

EDIT, thanks for the heads up, I appreciate it.

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SsurebreC t1_jbp2j4s wrote

That's exactly what happened and why FDIC was such a big deal when it created. Thankfully it hasn't been put to the test for any massive banks (ex: BofA). I'm glad your money is in other banks and safe though :]

Take care!

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