David Frum says the run on banks is more of a business banking phenomenon. The $250,000 FDIC insurance limit isn't really adequate for a business account, he says. If you're a business who banks at a bank and you have reason to believe that it might be insecure, you're going to race to take your money out - this is why panics happen. "I know what happened in American history when we didn't have FDIC"