tag:blogger.com,1999:blog-7778441.post6903268741845485524..comments2023-12-19T06:54:20.572-05:00Comments on Answer Girl: Six Banks that Failed Last WeekEllen Clair Lambhttp://www.blogger.com/profile/14944288413332520719noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7778441.post-10476798045907757792009-12-16T10:29:06.106-05:002009-12-16T10:29:06.106-05:00That's simpleminded, or a willful misunderstan...That's simpleminded, or a willful misunderstanding of my meaning. Depositors have no safe way of sharing their excess funds without an intermediary, which is the primary purpose of banks. A bank is a source of funds the way a faucet is a source of water. <br /><br />Beyond that, through the multiplier effect and through the power of securitization — a genie that cannot be put back in the bottle, and is now a permanent element of our financial system, for better or worse — banks do, in fact, create money.Ellen Clair Lambhttps://www.blogger.com/profile/14944288413332520719noreply@blogger.comtag:blogger.com,1999:blog-7778441.post-14482004130706867572009-12-16T10:17:43.335-05:002009-12-16T10:17:43.335-05:00Banks are not the source of any funds. Depositors ...Banks are not the source of any funds. Depositors are.Jackhttp://novatownhall.comnoreply@blogger.com