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An Extended Breakdown of the Fed and Banks (Podcast)

Bloomberg Intelligence

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The Fed's Folly

I think the Fed will stand in charge with the greatest Fed folly in a very long time. The revelation has been the conceit and arrogance of a whole to maturity bond portfolio. It takes two years to reprice your loan book so that you can raise your CDs without destroying your net interest margin, without going into losses. I don't think it's debatable. This is wild coyote. We went over the clip. But seriously, this is real.

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