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Martin Wolf on why banks fail and what to do about it
Behind the Money
Banks Are Designed to Fail
Banks are intermediaries, and the assets they hold are by and large risky. People have to get in their minds that this is a very strange combination of activities for one institution. The argument is people really want to hold safe liquid assets because it gives them comfort. But we want there to be a very large supply of relatively cheap and flexible credit to our economy.
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