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Banks Stuffs ATMs With Cash As Debt Ceiling Default Nears

Thursday, October 10, 2013 - 8:02 AM
It’s hard to imagine Washington pols won’t agree to a deal before then, but one bank isn’t taking any chances.

One senior executive told The Financial Times that his bank was putting 30% more cash than usual in its ATMs. The reasoning is simple: With the government out of money, a worst-case scenario has Americans making a run on banks in anticipation of a collapsing economy.

Meanwhile, “We believe there is a zero percent chance of a federal government default at this time,” Morgan Stanley told clients. “The U.S. government will pay its bills.”

http://www.bankingmyway.com/home/banks-stuffs-atms-with-cash-debt-ceiling-default-nears
4
ShorebreakShorebreak2,686 posts since
Apr 6, 2010
Rep Points: 14,567
1. Thursday, October 10, 2013 - 8:07 AM
" “The U.S. government will pay its bills.”

Which US Government are you referring to?  The former US gov ran by people who actually did their jobs and acted like they cared about our survival would not have allowed us to even have been "shutdown" or had our credit rating lowered.  "This" government being run by whiney children who just want to make the other party and Obama look bad, is anyone's guess!  Read the polls!  Americans no longer seem to trust their own government!
4
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
2. Thursday, October 10, 2013 - 8:16 AM
Re: paoli2 @ 1. Thursday, October 10, 2013 - 8:07 AM

"Which US Government are you referring to?"

Who are you posing that question to? Morgan Stanley?
3
ShorebreakShorebreak2,686 posts since
Apr 6, 2010
Rep Points: 14,567
3. Thursday, October 10, 2013 - 8:23 AM
Those that anticipate a government in default may be interested in this article:

Is Homeland Security Preparing for the Next Wall Street Collapse?

 
3
ShorebreakShorebreak2,686 posts since
Apr 6, 2010
Rep Points: 14,567
4. Thursday, October 10, 2013 - 9:37 AM
Re:  #2     I was posting my reply concerning your post about Morgan Stanley's remark, not to you personally.   Sorry if I did not make myself clear.  (Wouldn't be the first time.  :)  )
3
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
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