Ringside Rematch w/ Richard Werner
The ACID Capitalist Podcast
00:00
Silicon Valley: The Invisible Gorilla
"I don't think the Federal Reserve was at fault. I think the Fed actually did a great deal in terms of leniency," he says. "We didn't realize we'd moved into the smartphone era of bank funds, where it's not 5% of the money that can be pulled." The central banks have created a very favorable system for the banks to take risk, Mr Obama adds.
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