http://www.cnbc.com/id/101222045
"Global regulators need more policy tools to counter the risk of devastating bank runs and should have powers over a wide array of market participants, U.S. Federal Reserve Governor Dan Tarullo said on Friday."
Since most of the "money" in the banks now is digital, any bank run would be devastating because there is very little actual cash to withdraw. If you doubt that, go withdraw $10,000 in cash.
A while back I withdrew $5,000 in cash. It was an enlightening experience...
"Global regulators need more policy tools to counter the risk of devastating bank runs and should have powers over a wide array of market participants, U.S. Federal Reserve Governor Dan Tarullo said on Friday."
Since most of the "money" in the banks now is digital, any bank run would be devastating because there is very little actual cash to withdraw. If you doubt that, go withdraw $10,000 in cash.
A while back I withdrew $5,000 in cash. It was an enlightening experience...