A medium size bank has many withdrawing moneygreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
I went to bank this afternoon as I often do this time and day, I ask the new teller whether there has been a lot of people withdrawing large amount of cash lately. She whispered," Yes. Many seem to be nervous about this Y2K stuff. But I don't think much is going to happen January..." This bank, which claims to be totally "ready", will be open Friday night later than usual and monday the 3rd. I asked wether there is a new limit on amount. She said," about $3,000 or else you have to notify us ahead of time." It's a good idea to fo to your bank more than once this week including Friday, just to get a new updated balance, but do not withdraw money.
-- Jane (Jane@ready.net), December 27, 1999
At this point no newpaper would print a story of big withdrawals at banks. It might be happening, but unless you see it, you'll never know.
Just go get what you think you need and don't make a big deal out of it. A bank run helps nobody.
-- Dog Gone (email@example.com), December 27, 1999.
That reminds me of a chapter in a book I'm reading which contains essays about the Depression.
It's interesting how in the 30's the public was reassured that the banks were sound and wouldn't fail....then without warning, a bank would close and all that depositers were left with was a sign on the door stating the bank was closed.
It happened over and over.
Also, many people think there was a stock market crash and then BOOM the depression. It actually started with a bang....then got gradually worse and worse and worse. There even was a recession just when it looked like things were looking up in the late 30s.
And consistently government officials and business leaders kept saying, Don't worry, be happy! It's turning around! We swear!"
Meanwhile, the economy slid into the abyss.
Bad, bad times.
It's amazing to read about what happened to the middle class during this time. HOw people went from earning around $72K a year (in our dollars) to about $22K a year ....in about 18 months. Very scary stuff.
-- Lara (Nprbuff@hotmail.com), December 27, 1999.
Jane: Do you like to mudwrestle?
-- King of Spain (firstname.lastname@example.org), December 27, 1999.
re: "a bank run benefits no one". If you find yourself feeling sorry for bankers, you should take the time to read an excellent article at the Catholic News magazine "The Wanderer" site. Access it at: www.thewandererpress.com Scroll down on the home page to an article from 9/30 entitled "US taxpayer dollars go into the pockets of Clinton cronies" I guarantee you will find this article informative.
-- meg davis (email@example.com), December 27, 1999.
I took out $5,000 last Thursday, no problem. Got it in 20's and smaller denominations ($4,000 in 20's, $500 in 10's, $250 each in 5's and 1's). The teller told me I should keep it in the bank. Just giving her opinion. Said she hadn't seen much being withdrawn.
If everything is ok by the 10th, back it goes in the account!
-- Already (firstname.lastname@example.org), December 28, 1999.
Do not expect officials in this country to be any less than optimistic about anything, especially the economy. We could be in a severe recession and the news out of DC will be upbeat.
Look at history, look at the last few recessions in this country, and you'll find that for the most part everything is upbeat, we live in interesting times, but that's one of the roles the folks in DC play, keep consumer confidence high.
They do a great job at that.
-- LALA (LaLALAND@aol.com), December 28, 1999.