On 14-10-2009 1:50, Darren New wrote:
> andrel wrote:
>> That is national banks, not regular.
> 
> All our banks create money out of nothingness. None of them actually run 
> printing presses per se.

I was thinking you might use it in that way.

>>> but lots of companies will go belly-up when their customers hear of 
>>> nastiness perpetrated by the owners. Especially now in the days of 
>>> internet.
>>
>> Internet was not involved, apart from making it easy to transfer large 
>> sums out of the bank rapidly.
> 
> Internet as a means of distributing information between people who may 
> be friends of those who (say) run television stations.

As such that was not the case.

>> I had not heard before of a bank, or other company for that matter, 
>> that was liquidated by a group of costumers because the CEO/owner had 
>> caused trouble for customers, was considered to be a hard learner, and 
>> could not be replaced in any other way.
> 
> No, that is rather extreme. But there are plenty of small companies that 
> get in trouble by ticking off customers.
> 
> Stuff like this happens too.
>
http://www.nydailynews.com/sports/football/2009/10/09/2009-10-09_black_nfl_players_crush_prospect_of_playing_for_a_rush_limbaughowned_st_louis_ra.html

> 
> 
>> There is this small problem of even more people gotten into trouble by 
>> this bankruptcy than were there in the first place.
> 
> Well, in the USA, most people have their money insured by the federal 
> government. Ever since 1929 or so, the government has made sure a run on 
> your bank won't leave you broke. There are limits, of course, but 
> they're pretty high for most people.

This was a small bank, only about G€8. Our limit is k€100 and apparently 
4000 pass that limit. And about the same number had high risk product 
that imply that in case of a bankruptcy they are paid last, so they 
effectively also lost their money.

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