Argentine banks

[Brad DeLong]

>Brad wrote
>
>  >>The coup de grace was then delivered by the
>government's decision when the crisis came to keep bank deposits
>fixed in dollars and to change debts owed to banks into pesos, thus
>with one stroke of the pen bankrupting the country's financial system.<<
>
>The Argentine financial system is not bankrupt, and just to prove it, you
>can buy shares in Banco Galicia if you want to.  The "corralito" regime was
>accompanied by a complicated set of measures aimed at maintaining the
>capital of the banking system.
>
>dd

Michael Mussa says they don't work...

Brad DeLong