Banks 'Too Big to Fail'? WrongAlton E. Drew
For the past year and a half, we have been focused on the contagion infecting global financial markets, a contagion started by consumers' inability to control spending, to live within their means. It is well documented that this contagion was amplified and spread when securities backed by mortgage obligations that certain consumers failed to meet started to fall in value, and for this reason, investors started keeping money on the sidelines, and banks stopped lending to one another.
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