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> There is probably some value in having banks to do loan underwriting and allowing private credit creation but this whole thing if allowing private banks to ru
by personomas 4y ago
> There is probably some value in having banks to do loan underwriting and allowing private credit creation but this whole thing if allowing private banks to run everything and then providing a federal guarantee of some deposits is absurd, just take that function away from the private sector.
Could you explain this better? I don't understand
- dools 4y agoI probably can't explain it better than Randall Wray from whom I got the information, in this lecture: https://youtu.be/gI86w6bSmS0?t=445 https://youtu.be/gI86w6bSmS0?t=445