California-based First Republic Bank becomes the third U.S Bank this week rescued from collapse the confusion of 30 billion dollars to save the troubled lender came from 11 of the nation's largest financial institutions Bank of America City JPMorgan Wells Fargo all contributing five billion dollars of deposits each Goldman and Morgan Stanley Each depositing two and a half billion ...
Read more“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan. “Back then, the public debt was 30-40 percent of GDP—not good, but ...
Read more“For capitalism to work, you have to have effectively functioning, solid capital markets. And in order to do that, you need savings—real savings, not money printed by a central bank, but real savings from businesses and households,” says David Stockman, who served as budget director for President Ronald Reagan. “Back then, the public debt was 30-40 percent of GDP—not good, but ...
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