Nole Brown's Love Speech

Most of the money in the world is really just some one else's debt. Banks get to use some sneaky accounting, very tricksy at counting. By doing that, they don't have to hold everyone's money all the time. They just hold some of the money. And by some we're talking tiny fraction. So at the height of the financial crisis in two thousand seven, many banks were actually leveraged at a ratio of 30 to one.