Lol, panic withdrawals are never easy for a bank to handle, but it's funny that this is (for the moment) probably less of a liquidity crisis and more that Wells Fargo never bothered stress-testing their system since transaction counts are probably predictable.
Panic withdrawals are exactly the opposite of what the Fed wants. They are desperately trying to limit the supply of money circulating in the economy rn and a major bank just showed people that it can vanish into thin air.
Wells Fargo is trending because people can't access their money.
Lol, panic withdrawals are never easy for a bank to handle, but it's funny that this is (for the moment) probably less of a liquidity crisis and more that Wells Fargo never bothered stress-testing their system since transaction counts are probably predictable.
unfortunately for the bankers, the perception that a run is underway is the same as one actually happening
Yeah, kind of how consumers anticipating a recession causes one. These feedback loops are grimly funny.
very normal and stable system
Panic withdrawals are exactly the opposite of what the Fed wants. They are desperately trying to limit the supply of money circulating in the economy rn and a major bank just showed people that it can vanish into thin air.
:this-is-fine: