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Old May 29th, 2010, 06:33 AM
ToddDH ToddDH is offline
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Join Date: May 2008
Location: Greeneville, Tennessee
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Ice, I'd like to clarify something.

The run on the banks didn't cause the Great Depression, the "run" was a result of the economy crashing. Secondly, a great part of the panic resulted from the banks failing and millions losing all of their money before they could even pull it out.

While people have lost their investments through and as a result of failed banks during the present crisis, thus far few if any people have actually lost their savings as was the case during the Great Depression because of the existance of the FDIC which was created as a result of the Great Depression.

Todd
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