A Run on the Banks: 1912 versus 2008
Prior to the ’30s, bank runs were quite common, as there was no FDIC insurance on deposits. So the run on the IndyMac bank a few days ago was somewhat startling to a 40-something fan of economics and bank worker (that would be me).
Take a look at the photo to the right. See the difference in how a bank run looked in 1912 versus 2008?
Nobody wears hats any more.
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