Citigroup CEO Fraser Says Mobile Money Is 'Game Changer' for Bank Runs

The video discusses the evolution of banking from physical queues to digital transactions via smartphones, highlighting the speed and convenience of modern methods. It also touches on the rapid impact of social media in accelerating events and praises the swift response of regulators in managing these changes.

How has technology changed the way people withdraw money from banks?

• People still need to visit the bank physically.

• People use postal services for withdrawals.

• Money can be withdrawn using mobile devices.

• Banks have stopped allowing withdrawals.

What role does social media play in financial events?

• It slows down the spread of information.

• It has no impact on financial events.

• It accelerates the spread of information.

• It prevents financial events from occurring.

What was the effect of a few tweets on the financial situation discussed?

• They delayed the situation.

• They resolved the situation.

• They caused the situation to escalate quickly.

• They had no effect.

How did regulators respond to the rapid financial changes?

• They made the situation worse.

• They ignored the situation.

• They responded quickly and effectively.

• They took a long time to respond.

What is notable about the regulators' response time in this situation?

• They responded slower than usual.

• They responded with unprecedented speed.

• They did not respond at all.

• They responded at the usual pace.