Tressco's video: Megalomaniac Money Madness - How Sane Bank Runs Reveal Fractional Reserve Insanity

@Megalomaniac Money Madness - How Sane Bank Runs Reveal Fractional Reserve Insanity

***ORIGINAL UPLOAD BY RTAmerica*** Permission to repost granted. Dec 12, 2011 Watch the full episode of Capital Account with Lauren Lyster at http://www.youtube.com/capitalaccount A bank run is a situation in which numerous bank customers try to withdraw their bank deposits simultaneously and the bank's reserves are not sufficient to cover the withdrawals. In December 1930, a bank run started at the Southern Boulevard branch in The Bronx of the Bank of the United States. Depositors were seeking to withdraw their money and started what is usually considered the bank run that helped to kicked off the Great Depression. The New York Times reported that the run was based on a false rumor spread by someone who claimed that the bank had refused to sell his stock. The next day, fearing a full out run on the bank, the directors decided to close their doors and asked the Superintendent of Banks to take over the banks assets. This bank run was reminiscent of the type seen on New York trust companies during the panic of 1907, and in particular, the run on the Knickerbocker Trust Company. Follow Lauren on Twitter: https://twitter.com/LaurenLyster

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This video was published on 2011-12-14 05:02:06 GMT by @Tressco on Youtube. Tressco has total 1.9K subscribers on Youtube and has a total of 654 video.This video has received 2 Likes which are lower than the average likes that Tressco gets . @Tressco receives an average views of 2.4K per video on Youtube.This video has received 1 comments which are lower than the average comments that Tressco gets . Overall the views for this video was lower than the average for the profile.

Tressco's video: Megalomaniac Money Madness - How Sane Bank Runs Reveal Fractional Reserve Insanity

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