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Saving this for next time the big banks fail and demand a government bailout.

• mhh__ 1y ago
  I don't know what it would be, e.g. pretty major dislocations go untouched because the banks can't deploy capital into them like repo in 2019. It's quite possible that the drive towards central clearing kills someone e.g. by warehousing too much in one place/lack of discretion in margin requirements for a central house etc