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Complete Story
03/20/2023
The Week That Americans Watched a Bank Run in Real Time
PYMNTS
Back in 1960s through the 1980s, there was a TV show titled “That Was the Week that Was.”
The program was, largely, political satire. But the title itself lends itself well to the act of taking stock of what went on these past seven days.
And with our rearview mirror firmly in place, the week that was … wasn’t pretty.
This was the first week that many of us — at least younger generations — got our first glimpses into what a bank run looks like, up close. The 2008 financial crisis, after all, is a decade and a half old.
And because this is the 21st century, it wasn’t like “It’s a Wonderful Life,” where people huddled on street corners urging each other to get their cash — bills and coins! — out of the bank and lines thronged the sidewalks.
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