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Political Discussion
Reply to "SVB Bank Run: Fed Calling Emergency Meeting "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How does one mismanaged bank cause confidence in the entire banking system to collapse?[/quote] Because it's the psychology of being a small business owner seeing the headlines that you could instantly lose all money for your business over $250k in bank. You could wake up the next day and have $0 to pay your employees, buy supplies, and pay your rent. It only takes one domino to fall to start the panic. Then another bank fails, and then another. Soon we have a full on nation wide bank run that sends us back to 40% unemployment like the Great Depression. Does fear and greed ever make rational sense? It doesn't have to, but it can happen when people start to panic.[/quote] You are a small business owner in CA? I’m a small business owner (maybe more midsize now)in MD but I don’t fear a collapse. If you are that concerned, diversify your bank accounts.[/quote]
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