Thursday, May 24, 2012

Search Volume on Google for "Bank Run" Hits Record High

Run on American financial institution
Indymac Bank in 2008. At the time, it was the
second largest bank failure in US history.
What's on people's minds? Well, if your answer is "bank run," you're on to something. According to a post in the financial blog zerohedge.com, Google's search engine results for "bank run" has surpassed its historic high. The searchers appear to have some reading and writing knowledge of English, with northern Europeans in the vanguard. Close behind in this grim horse race are the Chinese and those who call Singapore home.

Then again, according to most American mainstream media outlets, the recession ended years ago and everything is getting better. Those annoying foreclosures, workplace dropouts, student loan disasters, ongoing war in Afghanistan, and the widening gap between the have-a-lots and everyone else, are just mirages. Bank runs? Hey, don't you feel confident about Morgan Stanley (Facebook fiasco), JP Morgan Chase (risk management mess), Bank of America (broke), Citicorp (ditto), and Goldman Sachs (they're creepy and they're spooky, mysterious and ooky....)

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