Rumors of bad news sparked real-life bad news for Swedbank and SEB, a Nordic global investing firm, this past weekend. A “groundless twitter rumor”,according to the banks, that Swedish banks were preparing to withdraw business from the Baltic republic sparked a run on Swedish banks. As many as 10,000 customers withdrew $29 million dollars from ATM machines across the region this past weekend mainly because of the tweet. The rush on cash left nearly 15% of the ATM's without cash which further fueled the rumors. Swedish banks continued to restock the ATM machines and insist that the run was spurred by “totally irrelevant rumors coming out of social media”.Spreading false rumors about the banking system is a criminal offense in the Baltic republic. Swedbank and SEB are both monitoring the run and are promising that customers will be able to withdraw money if they wish to do so.Could a rumor on Facebook or Twitter spark a run on banks in the United States?
RE/MAX sells more homes than any other real estate company.For a reason...should we talk?Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty Comments are appreciated! Go ahead and add your 2 cents . . .We have 3 easy steps to find you the perfect home . Click here to get started, today!
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