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:
“I am bound to tell what I am told, but not in every case to believe it.”
—Herodotus (c. 484424 B.C.)
“Only solitary men know the full joys of friendship. Others have their familybut to a solitary and an exile his friends are everything.”
—Willa Cather (18761947)
“One should never make ones debut with a scandal. One should reserve that to give an interest to ones old age.”
—Oscar Wilde (18541900)