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The Lender of Last Resort (EP.300)

Animal Spirits Podcast

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How Much Money Could Be in Money Market Funds?

Bank deposits fell by $54 billion to $17.6 trillion in the week and in March 6, according to Federal Reserve data. Jack Bogle's last book that money markets basically saved Vanguard in the 70s and 80s. The sliver of equity that banks have relative to their deposit base could be very slim.

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