I'm not trolling here, just genuinely curious and not able to understand stuff. But what will people get when they attack banks? Wouldn't that hurt the little people in the long run?
I mean, here in our country there's currently a feud between Banco Filipino and Bangko Sentral ng Pilipinas (it's a very complicated issue going back to the Marcos Era) but the main gist is that BSP declared BF to be insolvent, and ordered its closure.
What resulted from these is that the depositors of Banco Filipino (their clients are usually farmers, vendors from rural areas, and small businessmen) were unable to withdraw their deposits while the bank is on an indefinite bank holiday.
The bottomline is that the owners and executives of the bank are currently locked in a court battle with BSP, while the depositors are piling up in droves, knocking at closed bank doors, and basically unsure as to what will happen to their life savings (espcially right now, where money is needed for school tuition).
The PDIC (phil depositors insurance something) has stepped in but they are only able to reimburse up to 5 thousand pesos, which is stupid because people don't put amounts that small in banks.
There's also another subtle effect, as people have started withdrawing their deposits from banks that are otherwise healthy, out of fear that the same will happen to them. This resulted in some of the banks closing their ATM machines in order to stave off the withdrawals, which resulted in even more paranoia.
