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What if there were a run on a bank and no one knew? In recent days some U.S. media have focused on a "silent run" on the deposits of Wachovia bank, which is now being taken over, after a bailout plan stalled and its rival Washington Mutual was seized.
Commentators including Nouriel Roubini, Professor of Economics at New York University's Stern School of Business, have highlighted the scope for quiet withdrawals by depositors whose assets exceed guaranteed levels.
But in Europe, another high-profile banking failure has drawn attention to a different 21st-century phenomenon: as homes and businesses increasingly manage their finances online, mass withdrawals may be invisible...
Bank savers run at the click of a mouse | Technology | Reuters
Commentators including Nouriel Roubini, Professor of Economics at New York University's Stern School of Business, have highlighted the scope for quiet withdrawals by depositors whose assets exceed guaranteed levels.
But in Europe, another high-profile banking failure has drawn attention to a different 21st-century phenomenon: as homes and businesses increasingly manage their finances online, mass withdrawals may be invisible...
Bank savers run at the click of a mouse | Technology | Reuters