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:
“And the case of butterflies so rich it looks
As if all summer settled there and died.”
—Philip Larkin (1922–1986)
“Mystics and birds do not carry their food with them.
Those who have full faith in God are always taken care of.”
—Punjabi proverb, trans. by Gurinder Singh Mann.
“In a democracy—even if it is a so-called democracy like our white-élitist one—the greatest veneration one can show the rule of law is to keep a watch on it, and to reserve the right to judge unjust laws and the subversion of the function of the law by the power of the state. That vigilance is the most important proof of respect for the law.”
—Nadine Gordimer (b. 1923)