“By 2007, shadow banking was bigger than traditional banking. And the depositors in the shadow banks – the corporate treasurers and money-market funds and pension funds that had trillions of dollars of cash – were starting to demand their money back. It was the start of the biggest bank run in history.”

“By 2007, shadow banking was bigger than traditional banking. And the depositors in the shadow banks – the corporate treasurers and money-market funds and pension funds that had trillions of dollars of cash – were starting to demand their money back. It was the start of the biggest bank run in history.”

— Jacob Goldstein