2011 the Year of the Bank Run

chimpanchu · Jan 12, 2011

http://finance.fortune.cnn.com/2011/01/03/2011-year-of-the-bank-run/

Some market watchers say yes, pointing ominously to the torrents of money pouring out of Ireland.

Irish bank deposits declined in November for the fourth straight month, the central bank said last week. Overseas deposits fled the country at their fastest pace in more than a year.

...

The flight from Irish banks has been most pronounced among foreigners, who presumably are less attached to their bailed-out bankers and can easily find other banks that, at least for the moment, appear less apt to go out of business.

The flight of deposits from troubled Irish banks is an unhappy irony because Ireland was lauded in some quarters in 2008 when it became the first state to guarantee bank deposits. That decision led to a short-lived surge of funds into the Irish banks -- not that the money stuck around for long. Since the late 2008 peak, more than 100 billion euros of overseas deposits have left the Irish banking system.
Click to expand...

Check out the latest Max Keiser show. Stacy Herbert talks about possible bank run in Ireland at 7:25.

[youtube]http://www.youtube.com/watch?v=Y8JpkXuM_E4[/youtube]

Guest · Jan 12, 2011

Very possible. Although with electronic banking now the norm...

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2011 the Year of the Bank Run

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