A Run on a Bank!

This is a little off topic, but I was stunned to read this headline from The Atlanta Journal Constitution: “Californians rush to pull money from Countrywide Bank.” The first sentence reads, “Anxious customers jammed the phone lines and Web site of Countrywide Bank and crowded its branch offices to pull out their savings because of concerns about the financial problems of the mortgage lender that owns the bank.” Click here for the full article.

Is this 1929 or 2007? How messed up is the financial system? How would the markets react to a nuke attack? Are your assets safe? At a later time I’ll talk about what I’ve done to disaster-proof my finances.

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Explore posts in the same categories: Off Topic Rant, Preparation

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