Epik_Teacher
Joined: 28 Apr 2010
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 Posted: Fri Feb 18, 2011 2:25 pm Post subject: Bank Run In Pusan? |
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Bank Run In... Korea
Submitted by Tyler Durden
02/18/2011
http://www.zerohedge.com/article/bank-run-korea
When one thinks of South Korea one tends to think of stable government and an even more stable financial system. That may change very soon. According to JoongAng Daily, "more than a thousand customers lined up in front of the Busan II Savings Bank located in Busan yesterday as soon as the nation�s financial regulator announced a six-month business suspension of Busan Savings Bank and its affiliate Daejeon Mutual Savings Bank." And not helping the mood was a bank employee who told the crowd that "You won�t be allowed to withdraw your money if you are just standing there without a queue ticket number." Needless to say, most promptly got a number. Those that didn't tried to get their cash at an ATM. Unsuccessfully: "Those without a ticket then headed to the automated teller machines to withdraw their money, but the machines quickly ran out of cash." And while the bank run at Busan was driven by capital inadequacy.......................
http://www.zerohedge.com/article/bank-run-korea |
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