Return of a plague: Banks are being hit by runs – are social media and banking apps to blame?
Credit Suisse and Silicon Valley Bank got caught up in the social media frenzy – and went under on runs. Now Deutsche Bank is panicking.
Take what you can get – and get away quickly! There are runs on banks again.
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“The craze in social media is aimed at Deutsche Bank,” headlined the Wall Street Journal towards the end of the week. And indeed, “Google Trends” shows that Credit Suisse has been replaced by Deutsche Bank in Internet searches. On Twitter, a “Kim Dotcom” can trumpet to the world that the bank is broken, you should withdraw your money quickly – half a million people see his tweet.
