
Accounts of the financial crisis leave out the dollar swap deals between banks - drtillberg
https://www.prospectmagazine.co.uk/magazine/the-secret-history-of-the-banking-crisis
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jstanley
Page doesn't seem to work. I only see 2 paragraphs and the second one fades
out at the bottom.

I have not disabled javascript.

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tradersam
Let it load all the way. Was happening to me, but once the page fully loads
the article becomes full size.

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tedunangst
But don't wait too long? I think I made it farther than OP but eventually some
OMG subscribe to our newsletter overlay jumped over top that I couldn't
dismiss.

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gwbas1c
Tldr

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occamrazor
During thee financial crisis the Fed allowed the ECB and other European
central banks to buy a large amount of dollars, which were lent to European
commercial banks who had short-term liabilities denominated in USD.

For reasons that I cannot grasp, the author thinks this is bad for the global
economy.

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cm2187
Yeah, and you have to go through a lot of ranting about banks before getting
to the actual story. Which isn't much of a story. I looked on the Fed B/S, the
amounts don't seem very large in comparison with the magnitude of QE.

