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Are We Headed Towards a Monetary Breakdown? | Jeff Snider
Hidden Forces
What's the Best Quality Collateral?
In a repo transaction, they call it repurchase agreement because of the Fed actually. collateralization has been a huge part of this euro-dollar transformation from the very beginning. One of the reasons that AIG actually went down was because it was borrowing treasuries from its regulated insurance subsidiary. So what happens is there's not enough treasuries because these treasures get reused and re-pledged all the time.
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