Lev Menand on *The Fed Unbound: Central Banking in a Time of Crisis*
Macro Musings with David Beckworth
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How Do We Regulate the Shadow Banking System?
"The fed's doing too much. It's going to jeopardize what it should be focused ona its mandate," he says. "We don't have shadow security markets, where people create things that operate like security but are called somenly different and therefore ought regulated by the cit." He proposes a bank monopoly with regulations for everyone who does banking - even if they're not banks.
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