@bgawalt in 2008 i think the concern was mostly that business’ banks would fail, or for big businesses that typically borrow cash in the commercial paper market, that market might dry up, leaving them illiquid. obviously in the ensuing recession lots of businesses failed, eventually running out of assets to sell or borrow against when revenues were depressed. but the fears about deposit access and commercial paper came first.

@bgawalt (i mostly renember the fear “the atms would stop working”. which already feels anachronistic.)