Bank Run in Los Angeles at a First Republic Bank Branch
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The bank is plenty liquid and has unused $60B credit line with fed. I hope we can use social media to educate people and not partake in creating another bank run.
Be safe, but perpetuate the 'run' or risk being caught with pants down if true...
The point is, the fact that someone is spreading rumors on Social media already half confirmed that someone out there is going to attack this bank. It could very well be a geniune group of depositors who wanted to get $$ out, or it could be paid by someone to pose like that. Either way, individuals have to protect their own best interest.
She believed the local manager who said her money was safe. A month or two later, that credit-union went under, taking my girlfriend's money with it. About 40 grand. About five years later, she was given back the money by the government-of-the-day, but principal only with no interest and depreciated due to inflation during that time. She probably lost the equivalent of 10-15% of her money.