Originally Posted By: MDinana
maybe off topic, but has anyone thought about what happens IF the banks all go TU at the same time, a la 1929? What happens to all those checking/saving accounts? Does that electronic money just evaporate?

The Financial Times is reporting that some of the biggest banks are sending 20-30% more cash than normal to branches in anticipation of a debt limit showdown and crisis. Even one report from some bank customer saying that they tried to withdraw some of their money but the "bank is out of money" could spark more withdrawals, so these banks are trying to avoid that sort of panic.