Wall Street found it could construct a lever nearly infinitely long. But it ultimately lacked a prop -- that is, capital -- sufficiently strong. As a result, it finds itself turning to the government and the Fed to support it. Regulators are providing a prop, and preventing a collapse. But that will mean a far different world, and one less easily moved by leverage or those who manipulate it.
Antitrust at the Agencies: Happy New Year 5786 Edition
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It’s the beginning of a new year for some of us, so let me wish all of you
a good year, and a sweet year, even if you don’t know what I’m talking
about. ...
4 hours ago
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