3 ms·
> Nobody realized this until a few weeks ago, and without the government's scramble to respond everyone would have moved their deposits to the big banks, killin
by notch898a 4y ago
> Nobody realized this until a few weeks ago, and without the government's scramble to respond everyone would have moved their deposits to the big banks, killing all the others.
Hopefully no one will take this as a political endorsement but this is the most exquisite exchange I've seen illustrating your point by Secretary Yellen and Senator Lankford.
https://youtu.be/CX6O--sk48A?t=5430 https://youtu.be/CX6O--sk48A?t=5430
Based on her response I anticipate we will continue to see the effect you predicted. Yellen was pretty much speechless in the face of presentation that people will start moving their money to banks designated as ones worthy of "systemic risk" designation.