Financial crises are not going away

The Abacus Savings Bank serves large numbers of Chinese immigrants in New York, New Jersey and Pennsylvania. In April 2003 news spread through the Chinese-language media that one of the bank’s New York City managers had embezzled more than $1 million. Frightened depositors, unfamiliar with the safeguards in place at US banks, converged on three of the institution’s branches to withdraw ... ................
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