Wednesday, July 16, 2008
At this hour in the US, six of the top sixty searches on Google's search engine concern Americans' fear of more bank failures. It is apparent that the US government's Federal Deposit Insurance Corporation (FDIC) website is receiving a flood of hits. I noticed yesterday that FDIC had taken out a full page ad in Newsweek, alerting citizens that their deposits are insured only to a maximum of $100,000. Perhaps the US banking crisis is more severe than business and government leaders have been willing say in public. If panic is the worst enemy of the financial system, might Google search trends portend trouble?
Posted by Jotman on Wednesday, July 16, 2008