Bank runs are happening, but the media hasn’t figured it out yet

I sent my husband to our local bank to pull out cash, a lesson from before the financial crisis (which I remember like it was yesterday).

We had to take the money out in $20 bills, because there was already a massive bank run here on Friday. The bank said they were ordering more cash, and could have the money in $100 bills on Wednesday. We took the twenties. I feel like a drug dealer.

We aren’t alone – New York’s elite has been pulling out cash for weeks. You can’t control the policy response to a crisis like this, and I would have never in a million years anticipated that state and local governments could be this stupid.

I worry quite a bit about the people who rely on government benefits to get by. Those are funded out of state and local governments’ tax bases, which they just destroyed.

One thought on “Bank runs are happening, but the media hasn’t figured it out yet

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