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Martin Wolf on why banks fail and what to do about it
Behind the Money
Is There a Guarantee of All Deposits?
There are four options for dealing with the problems we've been seeing in the last few weeks. The first is go back to the free market and let banks fail, Martin says. Ken Griffin argues that letting SVB fail would have taught everyone a cold, hard lesson about something called moral hazard. Allowing uninsured depositors - corporations and wealthy individuals - to be lost in a run is not something states are now willing to do.
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