> unlike 2008 which was fairly limited to (arguably huge) banking...this crisis will hit hard everywhere
I think it's clear that it won't hit "everywhere" specifically because... it will not hit huge banking. After 2008 every huge bank was required to hold much more massive amounts of cash on hand specifically to fend off bank runs. And that's working.
But I very much agree with you -- and with Chase bank -- that this will not in any way be a repeat of 2008.
I think it's clear that it won't hit "everywhere" specifically because... it will not hit huge banking. After 2008 every huge bank was required to hold much more massive amounts of cash on hand specifically to fend off bank runs. And that's working.
But I very much agree with you -- and with Chase bank -- that this will not in any way be a repeat of 2008.