The Current Discussion: Will the current financial crisis discredit free-market policies in your country? Is socialism an echo of the past or a preview of the future?
Bank run is never fun, anytime, anywhere. And bank run amid the current financial tsunami would be worse than a nightmare. A major Hong Kong bank, Bank of East Asia, suffered from this fate just this week. The authorities reacted quickly and injected a lot of cash into the financial system; things have returned to "normal," more or less, for the meantime. These days, governments in Hong Kong or elsewhere wouldn't hesitate to do anything they see fit to help the financial sector. And the population at large would also go along.