Still chasing shadows?
>
> (email exchange)
>
> On Wed, Oct 7, 2009 at 4:39 PM, Eric wrote:
>
> It’s hard to get it more backward than this:
>
Yes, this is telling:
“The banks don’t need to sell securitized debt to make loans — they could start lending out of all those excess reserves they currently hold. ”
>
> He is asking good questions but with all the wrong reasoning.
>
Agreed, thanks — waiting for the first Nobel prize that’s given to someone who actually understands basic monetary operations!
[top]