MacroVoices #374 Chris Whalen: Are More Banks Going To Fail?
Macro Voices
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The Fed's Lessons From the 80s
The Fed provided what they call abundant reserves, which included buying $9 trillion for the securities. The average mortgage coupon in the U.S. today is $3. Today's economy has assets that are 15 to 20 points under water and can't be sold.
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