Bankruptcies can be pretty damaging. If we see a lot of loan defaults, we might see a banking crisis.
...but probably not. Banks are very well capitalized these days - much much better than 2008.
...but probably not. Banks are very well capitalized these days - much much better than 2008.
Just takes one queue at a bank, few social media posts and next thing, all those branches have queues due to panic and end up with a self fulfilling prophecy so to speak.
Heck, if people can panic buy toilet roll, nothing is out of the reach of stupidity.
Your account is FDIC insured up to $250,000.