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by oh_sigh
1968 days ago
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It's more like no one actually saw fire, but the back half of the theater snuck out and ran away because there were rumors of a fire. Authers saw this happening and had a chance to tell the people in the front of the theater that the whole back half had thought there was a fire and ran away, but he decided to just slink out the back and leave the front half to get burned. I'd be ashamed to call myself a journalist if that was how I behaved. |
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The thing about bank runs is that if everyone, everywhere thinks there's a bank run happening, this will actually cause the financial system to collapse. It's a self-fulfilling prophecy.
But if most people don't think a bank run is happening, then the system can weather a few bad banks popping.