The Banking Crisis Is Opening a New Chapter of Capitalism
Big Take
00:00
The Fearless Free Market Financiers Discover the Virtues of State Intervention
In each case, I think people were straining at the edges, especially at Credit Suisse. Basically, you've had a long period of low interest rates. It was hard to make money on sort of normal loans, so they started messing around looking for other stuff. And once you have question marks about your numbers, you know, there was a problem about how big the outflows were. Eventually, people get spooked and that is what happened.
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