Articles

Burr’s Bank Run!

In economics/money, Films/Film stars, stupidity on April 16, 2009 by Editor Z

The Washington Monthly reports that Senator Richard Burr(R-NC)effectively called for his wife to make a run on the bank in the Fall of 2008 and withdraw all there money. ‘Banks Runs’ were common during the Great Depression, when customers feared that a bank would become insolvent they would rush to withdraw all their money.

Now I just feel like showing George Bailey in Its a Wonderful Life trying to calm nerves during a Great Depression era bank run.


One word Senator: FDIC

Digg!

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