Aren't failing banks and bank runs a sign that we're in a depression?

Question

http://en.wikipedia.org/wiki/Bank_run

http://banking.about.com/b/2008/07/14/old-fashioned-bank-run-finishes-indymac.htm

Answer 1

no,recession.and we're not in one of them either!

Answer 2

if we were in a depression people would be breaking into your home to get food and stealing gas from your car, and unemployment rates would be like 20-50%, people would be killing each other to get work

Answer 3

I think the fact we doubled the national debt over the weekend by bailing out 3 big banks.  

5 trillion in one weekend and people say we shouldnt be worried.

Answer 4

Didn't you hear The Decider? It's all in our mind...

Answer 5

No.  It just means a bank failed.

Answer 6

Banks fail in depressions and therfore, it is a sign of a depression, but not a sign that we are in a depression.  You guys have no idea how bad a depression is.

Answer 7

Yea, but don't tell anyone...soon gas will  be 28cents a gallon

Answer 8

There is actually no universally accepted definition for a economic Depression.

So Reps will never admit to a Depression until a Dem gets in office.  That's the day the Reps and Cons will say we are in a Depression.

Most of us know we're on our way there now.

Answer 9

There are banks that fail even in the best of economies due to poor management of funds.  The ones that are currently failing are doing so because of foolish lending practices.  This isn't a sign of a depression but a necessary correction of the economy.  Housing prices have been skyrocketing for years.  A correction was inevitable but some people and banks acted as if the market would last forever.  The definition of a recession is two consecutive quarters of lower GDP.  That hasn't occurred so how could we be in a depression?

Answer 10

A depression is 4 consecutive quarters of negative economic growth.

Answer 11

Who knows? We had the savings and loans crisis back in the 1980s, and the country wasn't in a recession. The economy was  doing fine. However, the recession of the early 1990s might have been the result of the savings and loan failures. If we look at the Great Depression of the 1930s, there was a stock market crash that signaled the start of the great depression. The banks started fail in the ensuing years of the Great Depression. Remember, the bad part about bank failures during the Great Depression was that there was no FDIC.

Answer 12

I would pay attention to the about.com link the FDIC insures all banks in the U.S. and there was no reason for those people to panic like that

Answer 13

no.  

the sky is falling, the sky is falling!!!