An Irishman hears that the banks are failing. He runs into the bank where he keeps his money and demands every cent of it. 'Yes sir,' the teller says politely. 'Do you want it in cash or in the form of a check?' The Irishman replies: 'Well, if you have it, I don't want it. But if you haven't got it, I must have it immediately.'
About this quote
- What does it mean?
- The author tells a joke about a bank run showing contradictory logic when institutions fail.
- In plain terms
- People panic when banks fail.
- What can you take from it?
- Fear drives irrational financial behavior.
Where it applies
Putting it to work
Questions to consider
- Why do people panic during bank failures?
- Is this logic universal?
Another view
It simplifies complex economic crises into a single punchline.
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