Quote:
Originally Posted by Nat
I hear alarm bells with people switching their banks on November 5th. When I think of masses of people withdrawing money from a bank, when you know they don't have the cash at hand to pay for it, it just reminds me of that Mary Poppins scene about the run on the bank. I am somewhat concerned that certain actions could plunge us into a (worse) depression and there might be a certain element of cutting-off-our-noses-to-spite-our-faces going on. The banks deserve it, but I do wonder what the long-term ramifications will be for people.
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I was thinking since they had ample notice, perhaps they have already got some action going to protect themselves. Like derivatives where they bet they will suffer a loss on Nov 5th. You know how they love to gamble. Especially against themselves. That's how they make big profits. And then they can double dip and get a bailout.