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A Puzzling Bailout and A Perilous Economy

WSJ Opinion: Free Expression

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The Role of Monetary Policy in the Financial System

Despite the shocking run up in interest rates that we've seen over the last year, you know, the fallout in the financial system really should be manageable. But I think most banks are a lot better managed than SVP was. If I had to worry about something that would catalyze a financial crisis, I would still be worried more about the non-bank sector than the regulated banking sector.

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