Former Harvard Economics Professor Terry Burnham withdraws $1M from his checking account at BOA.

“Why do I risk starting a run on Bank of America by withdrawing my money and presuming that many fellow depositors will read this and rush to withdraw too? Because they pay me zero interest. Thus, even an infinitesimal chance Bank of America will not repay me in full, whenever I ask, switches the cost-benefit conclusion from stay to flee.” To read the story in full, go to: