With Lehman brother, Merrill lynch, AIG, Wachovia all the major finance biggies in trouble everyone is scared of whose gonna fall next, which name will be flashing in all the papers and news channels. And amidst these fearful times whats the easiest trick to pull is to spread rumors about the next to fall. That's what happened when some mindless media people started spreading rumors that the next one going bankrupt is Indian Banking giant ICICI after facing huge loses because of Lehman brothers going down and UK wing being affected by Sub prime, which of course isn't true, the bank is no where near bankruptcy. But I am just amazed how people can react to such baseless claims. Every ICICI ATM in town is crowded since last night, there are people fighting to get in the ATM branches and withdraw money before the ATM machine goes bankrupt. I swear to God I have never seen such long queues outside an ATM. But why don't people realize that withdrawing of money in such large numbers can actually put the bank in a credit crunch and can make the situation actually go bad.
Perhaps when we are scared we done seem to use our brain, but these are the times when acting sensibly is the need of the hour.
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