Friday, October 16, 2009

This Is A Scary World for Banks

So I came across this interesting article about Bank of America suffering from a large loss for this year.  Here is the link to the story I'm talking about:

http://www.reuters.com/article/topNews/idUSTRE59F1TJ20091016

Although this is a good story, I didn't learn much about one important question that I've asked myself recently:  Do people still have faith in banks?

This question is often something that is brought up when I'm speaking with my parents because I find it interesting that banks are financially hurting, but I haven't heard if many people are withdrawing money from distrusting the strength of banks.  As this article states, Bank of America has been financially strained for this entire year.  As many banks across the nation are announcing their losses during this recession (or during this current time in America's history), I'm surprised I haven't heard more stories about people and their thoughts about banks.  I would like to have heard what customers of Bank of America are doing about this announcement.

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