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This photo dated October 24th, 1929, shows a view of people rushing to a saving bank in Millbury, Massachusetts as the stock market on Wall Street crashed, sparking a run on banks that spread across the country. (AFP/Getty Images)

Three Ways To Stop A Bank Run

Jun 5, 2012

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Before it was a laundromat, this building housed the Bronx branch of the Bank of the United States. One the first bank runs of the Great Depression happened here in 1930.

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Once a bank run starts, it takes on a logic of its own. Even a solid, solvent bank can't hold up for long if people start to panic. This is a problem for Europe right now, as depositors continue to pull money out of banks in Spain and Greece.

On today's show, we talk to Douglas Diamond, an economist who is one of the go-to guys on bank runs, and we hear from Greek bank teller who is handing out euros to panicked depositors.

We walk through the three things you can do to stop a bank run — and figure out what options are left for Europe.

BONUS: Check out our special bank run playlist assembled by Zoe Chace.

Music: A Flock of Seagulls' "I Ran." Find us: Twitter/ Facebook/ Spotify/ Tumblr.

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