Wednesday, March 17, 2010

Ben Bernanke requests elimination of reserve requirments for banks

This would put us so close to the brink of collapse it'd be unbelievable. How could anybody reconfirm this guy!? ...This would mean banks would have to have no money on deposit for everything they lend out.

Federal Reserve:

The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system.
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