Black Listed News

Rumors Spark Bank Run, Break-Ins in Brazil

May 20, 2013
Share It | Print This

Source: CNBC

Rumors that Brazil’s social security fund called Bolsa Familia was to be cancelled led thousands of people to rush to withdraw money from a Brazilian bank over the weekend.

Customers lined up at ATMs at dozens of bank branches of Caixa Economica Federal, a government-owned bank, which pays the social security subsidy on Saturday and Sunday.

“The bank branches themselves aren’t open on Saturdays. What happened is that once the rumor gained momentum, people flocked down to their local branches to try to withdraw money from the ATMs,” Rafael Carregal, a journalist at Brazil’s main TV network Globo told CNBC.

Brazilian newspaper Estado de Sao Paulo reported that at five branches in the northeastern city of Sao Luiz and four others in the state of Maranhao, depositors broke into branches. Most of the branches that were affected were in the poorer northeast region of the country.

In all, branches in 12 states were affected as the government tried to quell the rumors.

“Police had to intervene in many states, trying to keep the masses in order. The minister of national development had to make a speech (on Sunday) reassuring the people that nothing was to be changed in their benefits program,” Carregal said.

Read More...

Share This Article...


Subscribe To Updates
Blacklisted Newsletter
Blacklisted Radio
Blacklisted Nation
On Twitter
On Facebook
The DoomCast
Podcasts on Demand
Podcasts on Spreaker
Podcasts on Youtube
Podcasts on iTunes
Podcasts on Stitcher
Podcasts on Tunein
Podcasts on Roku

Support Us
Donate Today!

Affiliates
Golden Eagle Coins
6 Dollar T-Shirts
DHGATE.COM
GoldSilver.com
The Ready Store
Onnit Labs
Audible Audio Books
Amazon.com
Blue Host



BlackListed News CC 2006-2014