65. Bailout Brink: The Tale of Two Bank Collapses w/ David Phelps
On The Other Side
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The Role of Banks in the Economy
For the United States government, for example, Banks compose a kind of money plumbing system to generate and distribute cash across the country. For the Federal Reserve in particular, each bank is a kind of faucet for irrigating the economy. But banks themselves might define their job a bit differently, as borrowing short-term to land long-term. It's the competing demands of these three bank mandates that mean we depositors have little say in the bank's policies.
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