Quote:
Originally Posted by onwebcam
|
HELLO. MCFLY!!!!!
All that page has is the number 7.4 trillion on there. It has lots of things I explained before, such as the liabilities for nationalizing fannie and freddie and backstopping losses from certain financial institutions.
Nowhere does it say that banks are allowed to loan out 10 times the $700B they received in direct capital injections from the Fed.
Please show me a definition from any reputable source that says fractional reserve banking allows banks to loan out 10 times their deposits, rather than 90% of their deposits.
If you can't do that, then admit you were wrong or STFU.