Markets are a psychological phenomenon—a set of beliefs about how the world works and what things are worth. When assumptions are challenged, the results can be stomach-churning.
Unnoticed by most of the world, this is what happened in China last month. After regulators took over a small bank called Baoshang—and upended assumptions of state backing by announcing probable haircuts for creditors—short-term borrowing rates spiked. The episode laid bare the fragility of China’s gargantuan interbank money market, whose daily transactions...
nate_taplin Cannot imagine those going through holocaust would perpetuate this same holocaust on another I.e. Palestinians
It was in tim geithner's book the first time read so-called financial plumbingm
It's almost like people haven't learned all of the necessary lessons from 2008-2009 and scads of systemic flaws remain.
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