I can’t yet clearly imagine a correlated attack on a large percentage of the banking system. Will the criminals wire a few trillion dollars… somewhere? Can’t the US government say “no, this huge transfer of dollars is not ok”?
They wouldn’t need to. They would just need to harm depositor confidence enough to trigger massive outflows of funds, causing the bank to fail on that basis alone.
I can’t yet clearly imagine a correlated attack on a large percentage of the banking system. Will the criminals wire a few trillion dollars… somewhere? Can’t the US government say “no, this huge transfer of dollars is not ok”?
They wouldn’t need to. They would just need to harm depositor confidence enough to trigger massive outflows of funds, causing the bank to fail on that basis alone.