interesting article:
http://www.dailyreckoning.com/the-collapse-of-09/
extract:
Well before Inauguration Day, Barack Obama was cast as the
next Franklin Delano Roosevelt. If he follows in FDR’s footsteps he
could freeze deposits by declaring a "holiday" to stop a run on the
banks. While FDIC insurance may cover deposits, even after banks
reopen, withdrawal amounts may be restricted. (As the Argentine
government did in 2001-2002.)
Author’s Note: Suspicious of the soundness of the banking
system, I requested to withdraw a substantial sum from our Key Bank
account, leaving funds sufficient to cover ongoing business
operations. First they tried to dissuade me, then they stonewalled
me, and finally they turned openly hostile.
I was forced to sign a series of documents, including one
acknowledging that since I was carrying a large sum I could be the
target of a robbery. To enhance that possibility, the teller
slammed down the bag of cash on the counter and publicly announced
the sum.
Despite repeated requests in the days preceding my
withdrawal to get the cash in hundreds, they gave it to me in
twenties, making for a bag five times the size and more
robber-friendly. When I complained to the bank manager who had
processed the request, the response amounted to "take it or leave
it."
they all really really need the money now
i wonder when the rot will stop
