Thursday, September 25, 2008

Run On The Bank

Thousand of nervous customers of the Bank of East Asia in Hong Kong were queueing up yesterday and last night to withdraw their deposits. Apparently a rumour was spread the day before that the 90 year old and Hong Kong's fifth-largest bank was in trouble. The trouble was supposedly connected with the US subprime mortgage crisis.
The Hong Kong Monetary authority and the Hong Kong government gave assurances yesterday that the bank was sound and that the rumours were unfounded.
Here the run on a BEA branche on des Voeux Road West.

© Kees Metselaar 24/9/2008

Labels: , , , , ,

Free counter and web stats