As we look towards the end of the year with America suffering one of the worst year's for bank failures in recent history (over 120 so far this year), I was impressed by an image at the Tretyakov Gallery of Russian Art in Moscow.
A painting by Vladimir Makovsky ...
Can you guess what it is?
If I told you that the sign says "Customer Deposits" ...
... and those are Russian Police ...
yes, you guessed it. The painting is called "Bank Failure", and is dated 1880.
The police are there to hold back the angry crowds who have lost their deposits.
Nothing much changes I guess. Oh, and Vladmir painted a follow-up in 1881:
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...