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?

Hats!

Nobody wears hats any more.

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billspaced

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mbhunter - July 18, 2008 Reply

Hah … stumbled that one. That was funny!

One of many banks to go down, no doubt.

billspaced - July 18, 2008 Reply

Yeah, that killed me when I thought of it! 🙂

Anonymous - July 20, 2008 Reply

I want a hat dammit.

billspaced - July 20, 2008 Reply

It would be a better world if we all wore hats. Plus, it would stimulate our sagging economy. I suggest that with the next round of fiscal stimulus checks the government sends out that we visit our local haberdashery and buy an assortment of hats.

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