In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.
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Nationality: American Type: Public Servant Born: August 18, 1961 |
“The American people were really not 100% convinced that this idea of default was really going to occur, and I think the media, current company excepted here, did not help in that regard because they confused the American people about what default actually meant.”