Thursday, October 9, 2008

Letter from Bedford Falls

Letter from Bedford Falls

This will probably get swamped in the miasma of end-of-the-world predictions, but it has the virtue of actually being written by someone who knows what he's talking about. I know malct will be on talking about Fractional Reserve Banking, but, for the record, he doesn't understand it. This explains how a bank actually works and why the 'bail-out' isn't.

Posted by james @ 11:53 AM (329 views)
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