Call me crazy but I just saw that the Standard & Poor’s 500 index is now down 56.4 percent from its peak in October 2007, making it the second worst slide for the index since its fall of 86.2 percent from 1929-32.
With Citibank trading at or around $1 a share, what happens if it goes to 0?
Will there be a run on the banks?
Can this happen at this day and age?
I am thinking it happened once before and history tends to repeat itself, this could happen. Word to the wise, stash some cash. You never know.
Let me know if you think I am crazy or not.
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