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March 12: In the 1930s bank runs occurred because a bank only had to keep a fraction of its total checking account deposits on hand for cash withdrawals and because bank deposits were not insured by the FDIC. Consequently, depositors could panic and try, in mass, to withdraw their funds up to the point the bank had no more vault cash or teller cash. Now most banks and credit union deposits are insured. Consequently, bank runs decreased dramatically because depositors…