OK so the government has seized Washington Mutual. One of the reasons? Nearly 10% of Federally Insured dollars had been withdrawn over the past weeks. So on NPR they were just saying it was like the start of a good-old-fashioned run on the bank.
(My primary mental image is of George Baily saying, “Come on, how much do you really need?” and saving his bank — but I digress)
Is anyone reading this blog thinking of taking their money out of the bank and putting it under their mattress (or some other equally secure place?)