Posts Tagged ‘ Startling Evidence ’

Structural Changes in Banking

By
November 29, 2008

The H3 data from the Fed gives some startling evidence as to the degree of financial deleveraging that occurred during the Panic.  Without doubt banks and lenders must have sold a boatload of securities at what were probably distressed prices during this period. To the Fed? To vultures?  And for what purpose? to prepare...
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