Facebook, the Last Bubble

This is my last bubble, on Facebook, for cash; This is the last chance to pretend to get rich; The system is finished, it's time for Glass-Steagall or die; So hold me, then scold me, cause when I'm bad, I'm oh so bad; The last bubble, the last dance. (Donna Summer spoof, the last Dance on Facebook) Recent figures suggest that Greek foreign deposits have decreased by 52% from their peaks. The same goes for Ireland and Portugal. These figures come from Citi analyst Matt King who answered the question: What if the rate of withdrawals (aka bank runs) we saw in Greece are repeated in Spain and Italy? King said: In Greece, Ireland, and Portugal, foreign deposits have fallen by an average of 52 percent, and foreign government bond holdings by an average of 33 percent, from their peaks. The same move in Spain and Italy, taking into account the fall that has taken place already, would imply a further $272.17 billion and $270.9 billion in capital flight respectively, skewed towards deposits in the case of Spain and towards government bonds in the case of Italy. Of course, the trick with bank runs is that even the utterance of the word can cause a panic--and the word it out.The recognition of the sound of the starting gun for serious bank runs in Europe is widespread. (So, crash baby crash, and then Harlem dudes, get that Glass Steagall now)