$120B in overnight loans is not $690B a week. It's the same $120B, lent at night, repaid in the morning, and lent again the next night. A site that doesn't understand even that much about what they're talking about is not a site that I'm going to read in order to find insight about Wall Street.
This was a story when it started because it did remind people of the last big financial crisis. But after investigating the underlying reasons, it's just not that interesting. That's why the media "snoozes". This time it's not a crisis.
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$120B in overnight loans is not $690B a week. It's the same $120B, lent at night, repaid in the morning, and lent again the next night. A site that doesn't understand even that much about what they're talking about is not a site that I'm going to read in order to find insight about Wall Street.
[Edit: spelling]
Lend me $120B every single night, then. I'll pay it back each time, and pocket $30M each time. Why are they getting any?
This was a story when it started because it did remind people of the last big financial crisis. But after investigating the underlying reasons, it's just not that interesting. That's why the media "snoozes". This time it's not a crisis.
This is trying to paper over a crisis.