Bank's Face A Crisis Of Confidence | Weekly Round Up
Inflection Point
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Do You Want to Sell Your Work for $1,000?
The last 80 years of the financial system in the US has been a story of consolidation, right? People talk about this a lot. We used to have 25,000 banks in the US in the 1960s and that's been consolidated way down to whatever it is now. The real problem is the, obviously, what this week has shown is that we need the Fed, right, to even for the large banks,. To shore up confidence in the system. So you're just transferring risk ultimately to the Fed, which is backstop by the US taxpayer.
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