July 20, 2008 (LPAC) - Did the U.S. banking system nearly collapse last week? On Monday, July 14, spurred by an open run by depositors to pull their funds out of the failed (reopened by the FDIC) IndyMac Bank, the banking crisis was once again in the headlines. During the day, bank stocks plunged as shareholders rushed to sell, and there were indications that the runs were not limited to IndyMac. Two banks, Washington Mutual and National City, took the unusual step of issuing press releases saying they were okay. WaMu, a $320 billion thrift based in Seattle, issued a statement saying it had "excess liquidity" and that it "exceeds all regulatory 'well-capitalized' minimums for depository institutions. National City, based in Cleveland and with $155 billion is the twelfth-largest bank holding company in the nation, said it was "experiencing no unusual depositor or creditor activity" and touted its own capital levels.