[lbo-talk] Money is money

Doug Henwood dhenwood at panix.com
Tue Nov 8 18:47:30 PST 2011


On Nov 8, 2011, at 9:33 PM, 123hop at comcast.net wrote:


> Right, but didn't B of A just move a whole lot of speculative accounts over to their FDIC guaranteed banking sector?

Didn't finish that last thought. So, if you take stable retail deposits away from the biggies (which I doubt will happen in meaningful numbers), they'll be more reliant on volatile wholesale funding, increasing systemic risk. And if you people think they're solving the problem by moving their money, there's less political pressure to re-regulate.

A friend just told me that an acquaintance who was moving her money said she didn't like going to protests, so she thought that by moving to a credit union, she could feel better about herself.

Doug



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