And now for a truly scary economic story

Here.

Regulation, regulators, yup, great, but when politics means that you don\’t actually have any regulators…..

2 thoughts on “And now for a truly scary economic story”

  1. Sounds like a good situation to me, as without the option of a bailout from the Fed, moral hazard is reduced.

    IMHO, we should move to have a clear distinction between money on deposit (which banks would simply safeguard and never use for any purpose) which would be guaranteed by the government, and investments (including the money market funds) that people know are always at risk and that are not guaranteed.

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