From source. "Bank deposits: Millions of Americans withdrew deposits from banks that closed, resulting in an estimated loss of $6.8 billion, which is equivalent to $136 billion in 2023 dollars". Now different in context but..... Well
Banks also weren't legally required to have all their customers' money, so some people showed up to withdraw their savings and there was just nothing there. Really cool to have your retirement plan dissappear into thin air (happened to my grandpa) 😀
Anytime someone complains about how Stalin took away their egg kingdom monopoly and pony, I just laugh and think "Wait until you hear what capitalism did to both sides of my family on opposite sides of the world."
The big one was the Great Depression and stock market crash. A lot of businesses and banks went belly up overnight.
From source. "Bank deposits: Millions of Americans withdrew deposits from banks that closed, resulting in an estimated loss of $6.8 billion, which is equivalent to $136 billion in 2023 dollars". Now different in context but..... Well
Banks also weren't legally required to have all their customers' money, so some people showed up to withdraw their savings and there was just nothing there. Really cool to have your retirement plan dissappear into thin air (happened to my grandpa) 😀
Damn thats rough about your grandfather man
Anytime someone complains about how Stalin took away their egg kingdom monopoly and pony, I just laugh and think "Wait until you hear what capitalism did to both sides of my family on opposite sides of the world."