Earlier this year, Romania's largest bank, Banca Comerciala Romana (BCR), suffered a humiliating two-day run at the hands of its depositors following the collapse of the country's largest investment fund, the Fondul National de Investitii (FNI).
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Many executives and officials blamed the stampede on the irrational fear of retail depositors that BCR was liable for losses at the fund or that the bank was otherwise in trouble. But one seasoned local banker believes the panics were the result of disinformation.
"They used phone banks manned by gypsies," the banker recalls, declining to attach a name to "they" but acknowledging with a wry smile his admiration for the conspirators. "They called around, saying 'so-and-so bank isn't safe.' And the next morning, people were lined up."
When this banker learned the calls were being made about his institution - the "they" in his case included troublesome borrowers, he says - he didn't waste a minute.