A Bulwark Against Another Financial Panic

Some six years later, we are reaching a consensus on the financial crisis of 2008. As I have said more or less since the beginning, the most important thing to understand about the panic in 2008 was that it was, at its core, a crisis of confidence. All of a sudden, financial institutions were afraid […] View the full post at: A Bulwark Against Another Financial Panic Related posts: What is Repo 105, Man? Repo 105: Fooled Again? The Correct Money Supply Measure for This Crisis