Can there be such a thing as a nationwide “run” on brokerages equivalent to the 1930’s “run” on banks?
One thing is for certain though, if the MF’ers are allowed to just walk away then something like that must happen.
It will happen.
It nearly happened to investment banks in 2008 when the British froze all investment banking brokerage accounts when Lehman went under. It didn’t matter who your banker was, the accounts were frozen.
That led to customers closing their accounts in the US in droves. It happened very quickly, and by December, they were all on the ropes.
That led to the nationalization of all of them.