GLOBAL FINANCIAL CRISIS/BANK RUNS: HERE WE GO BANK RUNS HAD BEGUN IN CHINA CONTAGION SPREADING WATCH EUROPE NEXT FOR BANK RUNS THEN USA

First it was Baoshang Bank , then it was Bank of Jinzhou, then, two months ago, China's Heng Feng Bank with 1.4 trillion yuan in assets, quietly failed and was just as quietly nationalized. Today, a fourth prominent Chinese bank was on the verge of collapse under the weight of its bad loans, only this time the failure was far less quiet, as depositors of the rural lender swarmed the bank's retail outlets, demanding their money in an angry demonstration of what Beijing is terrified of the most: a bank run.
Local business leaders, political cadres and banking executives rallied Thursday at the main branch of Henan Yichuan Rural Commercial Bank, just outside the central Chinese city of Luoyang, where they stood one by one before a microphone to pledge their backing for the bank, as smiling employees brandished wads of cash before television cameras to demonstrate

It is important to understand this information because it is partially supported by the ignorance of the people, who once dissipated, also alerts the public. People now wake up to carry out their legal duty.

THENANSHED 1st Officer of the Galactic Federation of free planets
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