"Don't Fight The Fed" | The Snider Series | Episode 3 (WiM093)
The "What is Money?" Show
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What Happened to Ripo Collateral?
In an unsecured market, like federal funds or just, you're a dollar deposited something like that, you're doing business with banks that you know. The problem of that is it opens the door to manipulation by people who don't necessarily know each other. That's really how it started to snowball, because a lot of these s and ls got themselves in way over their heads with a way of doing banking that they didn't really understand.
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