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Where is the Crash?

The Compound and Friends

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The Importance of Core Funding

The only thing that matters is if your assets and liabilities are mismatched. People with $2 million, $3 million deposits don't give a damn about earning 35 basis points when they could be earning four and a half. So there was this idea of the lazy affluence. If you go to Wells Fargo or something, and you say, look, I've got $700 in a checking account earning 30 basis points, am I going to really move that into a money market? And of course not.

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