A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Startling Evidence ’
Structural Changes in Banking
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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