International Bank Shuts Doors in Seattle
A collapse in Mexico leaves hundreds of local depositors in limbo as investigators move in.
The local branch of the International Banking and Trust company closed its doors this morning. The embarrassment is due to the failure of the main bank in the City of Mexico. Locally there are hundreds of small depositors. A notice posted on the doors of the International Bank and Trust Company this morning says: 'Owing to the suspension of our Mexican City bank, this bank has closed, pending an investigation by the bank commissioners.'
“Owing to the suspension of our Mexican City bank, this bank has closed, pending an investigation by the bank commissioners.”
Bank runs and systemic collapses feel distant until they happen to your own neighborhood bank. This 1903 story serves as a reminder that the interconnectivity of global capital has always held local families' life savings hostage to remote failures.
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