Mad run on banks 'can't be ruled out'
Professor Ian Harper, a member of the Wallis inquiry into banking, said no one had lost money in an Australian bank since the 1930s. But even though the banks remained well regulated and capitalised, an irrational run caused by a crisis of consumer confidence could not be absolutely ruled out, he said. Only then, might the government have to resort to extreme measures such as guaranteeing deposits, he said.
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