Woodford Freezes Redemptions From His Flagship Fund

The video discusses a run on the Woodford Bank in the UK, highlighting the challenges faced by the fund due to poor performance and illiquid investments. Woodford, once a celebrated figure in investment management, has seen his fund drop significantly, leading to a freeze on withdrawals. This situation has shaken investor confidence, drawing parallels to the 2008 financial crisis.

What does the term 'run on the bank' imply in the context of this situation?

What are the potential consequences for investors if they lose confidence in the fund?