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Charles Calomiris and Phil Gramm: In Today’s Banking Crisis, Echoes of the ’80s
Losses at SVB, Signature and other banks reflect the risk from borrowing short and lending long. It’s natural to look to the 2008 subprime crisis for insights about why our banking system is at risk. But that crisis was a housing finance collapse driven by government policies encouraging banks to take enormous default risk in the mortgage
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Posted: March 28, 2023 Tuesday 03:30 PM