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Bank of America: Our Execs Do Not Blow

21
(I Stand By What I Said Whatever It Was)12/23/2010 9:34:55 am PST

re: #13 Killgore Trout

If the bank is insolvent the Federal Reserve will take it over before it becomes public knowledge. If the knowledge becomes public before that there will be a catastrophic run on the bank as people rush to withdraw their money. That could cause serious damage to the economy.

The cause for any serious damage to the economy would not be the knowledge about the insolvency becoming public but the economic actions of the bankers leading to what the knowledge is about in the first place.