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Miki Delivers
Miki Bowman's paying off for Wall Street already.
Just weeks after assuming a role which should be
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Banks would leverage to infinity if allowed because it is a heads I win tails you lose game. Treasury of course wants to enlarge the buyers pool to finance an increasingly absurd volume of deficits. The banks will then repo the treasuries and their brokerage arms will lend them into the tri-party market. When everything works everyone is happy. But our economic equilibrium is fragile. When people start running for the exit, it becomes a game of musical chairs. And the person left standing is the taxpayer. All arguments to the contrary are disingenuous at best and dishonest at worst.
And we’ve already seen this movie before. Last time it ended with tent encampments for “irresponsible borrowers” and bailouts with bonuses for the bankers.