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A Run on the Banks: 1912 versus 2008

Posted by billspaced | 1:39 PM | , , | 4 comments »

Prior to the '30s, bank runs were quite common, as there was no FDIC insurance on deposits. So the run on the IndyMac bank a few days ago was somewhat startling to a 40-something fan of economics and bank worker (that would be me).



Take a look at the photo to the right. See the difference in how a bank run looked in 1912 versus 2008?



Hats!



Nobody wears hats any more.





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4 comments

  1. mbhunter // 7/17/2008 9:05 PM  

    Hah ... stumbled that one. That was funny!

    One of many banks to go down, no doubt.

  2. billspaced // 7/17/2008 9:08 PM  

    Yeah, that killed me when I thought of it! :)

  3. Anonymous // 7/19/2008 9:28 PM  

    I want a hat dammit.

  4. billspaced // 7/20/2008 4:57 AM  

    It would be a better world if we all wore hats. Plus, it would stimulate our sagging economy. I suggest that with the next round of fiscal stimulus checks the government sends out that we visit our local haberdashery and buy an assortment of hats.

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