Admati on ‘the banker’s new clothes​’

29 Oct, 2017 at 08:29 | Posted in Economics | 1 Comment

 

1 Comment

  1. I stopped watching when she said “taxpayer money” because it was the Fed’s actions that saved the world financial system in 2008 and after, not TARP. TARP was political theatre and was repaid anyway. The Fed created new reserves from thin air at no cost to taxpayers and became a Dealer of Last Resort in addition to the traditional Lender of Last Resort role. We know how to deal with a financial crisis: create more of the world’s best money. Taxpayer funding was not needed. I fear the speaker misses this important point about world finance.


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