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To: Don Lloyd who wrote (418)2/16/2002 5:10:13 PM
From: Don Lloyd  Read Replies (1) of 443
 
Putting things together, a stockholder is in the same position as a depositor in a fractional reserve bank.

Any one individual can probably redeem the full value of his account, but if everyone tries to do it, it doesn't work. Why would everyone try to do it? Because they finally realize this fact and lose confidence that nobody else is going to race them to the exit.

Regards, Don
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