The Common Depression Era Story Is That Everyone Takes Their Money Out of Banks

In the 1930s, for example, you had all these bank runs, right? And sort of the common depression era story is that it was a widespread panic. That's not what we saw happen, not in the 1930s and not in 2008. It was very specifically aimed at mostly asset backed to different securities. But when you have large institutional investors and the government hooked up with them, it's deja vu.