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Bearishly Bullish

The Compound and Friends

00:00

I'll Borrow Barney Frank. That's the Best Thing Ever

Larry Summers tweeted that S.V.B. committed one of the most elementary errors in banking, borrowing money in the short term and investing in the long term. When interest rates went up, the assets lost their value and put the institution in a problematic situation. The banks will lend to people that don't need to borrow it in the first place," he said. "It could dial up income inequality and things like that as well"

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