More Bank Runs Today


	More Bank Runs Today

DanaGarrett

7-15-2008 12:32 AM

116 views

DanaGarrett says:

Bye-bye $$$. Standing in line and getting your cash back is becoming the new American dream.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/1f9fb750-fb11-4fcc-a470-f0e71bc48c58/00248224-AE1E-4B29-A2E0-C814A397A07E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin" href="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin">Even as the Bush administration moved to rescue the nation’s two largest mortgage finance companies, confidence in the banking sector spiraled downward Monday.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin">In Southern California, lines snaked around branches of IndyMac Bancorp, the large lender that was seized by federal regulators on Friday, as customers hurried to withdraw their money. As the anxiety spread through the financial markets, two other big banks, one in Ohio and another in Washington State, were compelled to assert that they were sound. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.nytimes.com/img/300CB07B-C8B5-476C-B563-34BCF9086352" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin">Wall Street analysts circulated lists of lenders that might be vulnerable. Shares of regional banks plunged in one of the sharpest declines since the 1980s. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin"> “In addition to our credit problems, I don’t want to have to start worrying about bank runs.”</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/15/business/15bank.html?_r=1&adxnnl=1&partner=rssnyt&emc=rss&adxnnlx=1216080109-kHLaFqCwUl/9Yu74Hyc3TA&oref=slogin">Wall Street staged its own sort of bank run. Investors fled banking stocks en masse. The Standard & Poor’s 500 Bank Index fell nearly 10 percent.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/00248224-AE1E-4B29-A2E0-C814A397A07E/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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