Korean Bank Run Spreading: Eighth Bank Closes Following "Massive Withdrawals"

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FAB1

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Korean Bank Run Spreading: Eighth Bank Closes Following "Massive Withdrawals"

The quietest bank run that has so far completely evaded mainstream attention, that of Korea, is spreading, and an eighth bank has now shuttered. Apparently the courageous decision by the Financial Services Chairman Kim Seok-dong to deposit $17,864 in a troubled bank has not done much if anything to prevent the locals from realizing that their banking system is built on a house of cards.

(Excerpt) Read more at zerohedge.com ...
 
Re: Korean Bank Run Spreading: Eighth Bank Closes Following "Massive Withdrawals"

This could be having a big impact on Asian markets, or will in future.

I'd also be checking your bank's rating on a regular basis. BoA where are you now? :D
 
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