Two days after lehman went under, Financial Times journalist John Authers visited a Manhattan branch of Citibank during his lunch break. He wanted to move some cash out of his account. Some of his money was covered by government deposit insurance, but only up to a limit; if Citibank collapsed too, he’d lose the rest. He wasn’t the only one who’d had this idea. ‘At Citi, I found a long queue, all well-dressed Wall Streeters,’ he later wrote.[92] ‘They were doing the same as me.’ The bank staff helped him open additional accounts in the name of his wife and children, reducing his risk. Authers
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