Best Business Commentary

You think only Britain is vulnerable to a bank run? says David Callaway in MarketWatch. “Don't bet on it.” The album is alive and well, says Philip Freeman in Los Angeles Times.

Those Brits aren't crazy

You think only Britain is vulnerable to a bank run? says David Callaway in MarketWatch. “Don't bet on it.” The global financial system that has emerged over the past 15 years is “by far superior to anything in the past when things are going well,” but it’s “hugely vulnerable” to “little time bombs” like the U.S. housing meltdown. Britons lining up “in Depression-era, breadline formation” to draw their deposits from Northern Rock is just one offshoot of this unpredictable “global storm.” Add in “the real-time nature of news” revelations—real and bogus—and investor panic is a real possibility.

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