Banks Prep for Government Default – Stock Piling Cash for Panic Runs. Obama Holds Secret Meetings with Goldman Sacs for “Line of Credit”. Jamie Dimon Is Stepping Down as JP Morgan Chairman

InvestmentWatch

Banks Prep for Government Default – Stock Piling Cash for Customer Panic Runs

America’s biggest banks are stockpiling extra cash in their ATMs, amid fears that the government shutdown and the threat of a US default will induce a sudden panic among their customers.

Major banks have increased the amount of funds by around a third, and are holding daily meetings in sealed rooms to map out their contingency plans, according to well-placed sources.

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