The New Age of Bank Runs
Blame the smartphones and social media
In 1819, America suffered its first bank run. The FDIC did not exist and bank tellers were literally counting out cash before it was gone. The new age of bank runs is far different.
What previously took days, weeks, and months to play out in 1819 now takes hours or even minutes. All someone with a large Twitter following has to do is tweet that …
