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Wednesday, September 24, 2008

Bank Run in Asia

by Calculated Risk on 9/24/2008 01:16:00 PM

From the NY Times: Anxious Depositors Withdraw Cash From Asian Bank (hat tip Dave B)

Throngs of depositors lined up outside the headquarters and branches of the Bank of East Asia here on Wednesday to withdraw their money, underlining widespread anxiety in Asia that Wall Street’s recent difficulties might spread across the Pacific.
Check out the photo. It looks like the earlier bank runs at Northern Rock and IndyMac.