tag:blogger.com,1999:blog-2761684730989137546.post9091416379033460319..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: TASS — Bank of Russia ready to provide systemically important banks with special loan facilitiesmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-77292599671618859672015-09-27T12:16:10.333-04:002015-09-27T12:16:10.333-04:00@ Matt
Huh? I'm talking about sanctions.@ Matt<br /><br />Huh? I'm talking about sanctions.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-70792870906283085742015-09-27T11:27:14.010-04:002015-09-27T11:27:14.010-04:00Trillions for the bankers and nothing for the peop...Trillions for the bankers and nothing for the people once again. Yeah...Putin's smart.mike normanhttps://www.blogger.com/profile/03296006882513340747noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-60257486121836944962015-09-27T09:42:28.685-04:002015-09-27T09:42:28.685-04:00No government can let its financial system collaps...No government can let its financial system collapse, especially one under attack economically.<br /><br />There's a big different between the Fed bailing out the TBTF banks who created the mess themselves with no accountability and the Russian systemically important banks that are under attack by the US financially.<br /><br />The US government acting through its central bank was not wrong to provided unlimited liquidity for as long as needed to systemically important financial institutions and to temporarily nationalize vital industry. What was wrong was lack of accountability. The perps should have had prosecuted personally to send a message. The situation is entirely different in Russia.<br /><br />Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-22290805018870816572015-09-27T08:19:20.409-04:002015-09-27T08:19:20.409-04:00Can't wait to see Taibbi and Yves and Wray sta...Can't wait to see Taibbi and Yves and Wray start complaining about this...<br /><br />"$29T !!!!!".... "Vampire Squids!!!!".... "E-CONNED!!!!"<br /><br />I wont be holding my breath....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-29811388603582829282015-09-27T06:44:15.813-04:002015-09-27T06:44:15.813-04:00Billions of rubles at sweetheart rates of interes...Billions of rubles at sweetheart rates of interest for banks which c*ck it up? Dumbest idea ever invented.<br /><br />The normal rule in free markets is that if you c*ck it up you go bust. And quite right.<br /><br />So how do we ensure that incompetent money lenders don’t go bust? Well it’s easy: have them funded just by equity. <br /><br />As for deposits which are supposed to be totally safe, lodge those in a totally safe manner, i.e. don’t lend on depositors money. And money market mutual funds in the US will soon have to obey that rule, i.e. where MMMFs promise to return $X to those depositing $X, the money must be lodged only with the state (i.e. lodged at the central bank or put into short term government debt).<br /><br />In contrast MMMFs which invest in anything more risky cannot make the latter promise: that is, they will have to let the value of investors’ stakes in MMMFs float. Thus those stakes are effectively equity.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.com