Bank Withdrawal Limits: $200 Per Day?
The following is an excerpt from Rick Ackerman's daily commentary.
Too big too fail no longer means big banks, but rather the entire global financial system. Fallout from a Greek bankruptcy will be felt initially in Brussels, Frankfurt, Paris and London, but eventually – though perhaps not long afterward — in Topeka, Auckland, and Cape Town. Will you be ready if, say, your bank were to limit daily withdrawals to $200? That might be as good as it gets when the dominoes start to fall.