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  • Jim Costa

"This Should Scare The Hell Out Of Bankers & Regulators Worldwide"


"The entire $17 trillion deposit base is now on a hair trigger expecting instant liquidity."

"“I got a text from another friend - he was definitely moving his money to JPMorgan. It was happening,” the finance chief said. “The social contract that we might have collectively had was too fragile. I called our CEO and we wired 97 per cent of our deposits to HSBC by midday on Thursday.”

And as explained below, the new normal 'bank run' is instant, huge, and devastating."

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