The RBI and the Liquidity Crisis

I proposed all those ideas publicly in a column a week before they announced those programs. The idea I developed during the GFC ironically with Andrew Charlton, or at least he was the conduit to get the government treasury to invest directly into RMBs. So these are AAA rated asset back bonds that issued by banks and non-banks. They're investing $15 billion in that program. And so I, my key proposition was simply there was a huge liquidity crisis. If we didn't move quickly, it would become a solvency crisis. It's ridiculous. Habits are a tiny percentage of our portfolios. And I've never suggested such. What I wanted the RBI to do was