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How is something universally practiced (as is fractional reserver banking) not sound finance? The current crisis was not brought on by retail/commercial banks.
by daydream 18y ago
How is something universally practiced (as is fractional reserver banking) not sound finance?
The current crisis was not brought on by retail/commercial banks. It was caused by investment banks using way to much leverage, and trading complex financial instruments that where the risk was poorly understood.
- nazgulnarsil 18y agofallacy of the appeal to the majority. the current bank crisis was caused by alan greenspan's credit bubbles. the first one causes the dot com boom, the second caused the housing boom and was used to cover up the first.