‘It’s a Wonderful Life’ Until a Financial Crisis Hits

In the revered 1946 Christmas movie “It’s a Wonderful Life,” an old-fashioned bank run unfolds as dozens of customers rush into the Bailey Building and Loan Association, demanding their money back. It’s a frenzied scene that an SEC attorney repeatedly compared to an investor run at the Reserve Primary money-market mutual fund during the 2008 financial crisis.

Source: http://blogs.wsj.com/law/2012/10/10/its-a-wonderful-life-until-a-financial-crisis-hits/?mod=WSJBlog

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