I ‘m not sure how credible this is - but it is a possibility that a six-day closure of B of A’s online banking system could be due to a digital bank run.
FOLLOW-UP: I picked this up - it comes originally from a post on Zero Hedge
"Just returned from Bank of America where I closed an sizeable account open for quite a few years. I waited while three other people did the same thing.
"Why are you closing your account ?" the "Personal Banker" asks.
My sugar-coated response: "Your fee structure is crazy, Your stock price is crashing, your website is crashed, the bank is up to its blind eyeballs in derivatives, and I am skeptical that BofA is 'too big to fail.' I want to get out while the getting is good."
Personal Banker responds with a Wince, a painful grimace, a long contorted look of absolute bowel-driven agony and then.... "Well the Show Must Go On. ¿ How would you like your money, in 20's or hundred's ?"
My response: "I will take whatever is on sale." Account closed. FIve people waiting behind me, no doubt attempting to do the same thing.
Must just be a coincidence.
ALCOHOL, TELEVISION, ALL-YOU-CAN-EAT BUFFETS, BUT ABOVE ALL:::
FAITH IN THE SYSTEM"
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