I was at an Indymac location in Orange County, California today. To see the fear in people’s eyes that they might lose their deposits was eye-opening. Next bank?
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July 18th, 2008 at 7:32 am
The general public, that appears to be so dumb so much of the time, is very astute when it comes to the crunch. It is as though the collective intelligence responds and lifts its game in reacting to a challenge. People are prepared to tolerate the stupidity and untruths of the “authorities” when the system is functioning realtively normally; but as soon as the facade is slightly blemished, the masses show what they really think and feel about the assurances and platitudes they have been given.
July 18th, 2008 at 1:40 pm
Why did they wait until the stock was $0.12/share before they started panicking?
July 18th, 2008 at 2:13 pm
I’m not surprised by people’s sinful and irrational behaviors…..Jerry Parker got it right - “have faith….”