The Case Against Full Reserve
Fractional reserve banking allows for maturity transformation, which economists (such as J. Bradford DeLong and Paul Krugman) believe is the central function of the financial system.
Read more about this topic: Full-reserve Banking
Famous quotes containing the words case, full and/or reserve:
“If a playwright tried to see eye to eye with everybody, he would get the worst case of strabismus since Hannibal lost an eye trying to count his nineteen elephants during a snowstorm while crossing the Alps.”
—James Thurber (1894–1961)
“A marriage based on full confidence, based on complete and unqualified frankness on both sides; they are not keeping anything back; there’s no deception underneath it all. If I might so put it, it’s an agreement for the mutual forgiveness of sin.”
—Henrik Ibsen (1828–1906)
“I do not know what right I have to so much happiness, but rather hold it in reserve till the time of my desert.”
—Henry David Thoreau (1817–1862)