Is anyone seeing local bank runs yet? (loans, mortgage, buy)

[Woof]

This would be far more worrisome than the Dow crashing, although that might panic people enough to send them to the bank.

This is one sign you're not likely to see on the national news for a while after it happens, as they might not want to feed into the panic.

I've seen a couple of small local runs talked about on other boards.

[Kootr]

Runs on banks have been going on for some time now as people take out anything over the [previous] $100K insured amount by the FDIC. That is one reason why Wachovia Bank fell below the threshold last week and was almost siezed by the Fed, and now has been instructed by the Fed to be acuired by a stronger bank.

[Movie Lover]

The future local bank runs will be nothing like the Northern Rock one. The new ones will need riot police as the people queing will be fighting to get to the front. Like I said before, there is not enough paper and coins to give to people as most people spend on cards.

[texdav]

Since the FDIC is insuring accounts for more your money is as safe as the money itself.If the FDIC fails than the money wou;d be useless anyway.

[Obrero]

Plus local banks are often in the best shape. They didn't give out risky mortgages and didn't buy Mortgage Backed Securities or gobble up mortgage brokers out of greed.

[Woof Woof Woof!]

In the 80s, when the savings and loans banks crashed, people did not lose their money because it was FDIC insured.