The Federal Reserve just stepped in, lending hundreds of billions of dollars to major banks to keep them afloat. Why? Banks didn’t have enough money to trade to each other. So, the Fed stepped in. And it’s happened now THREE DAYS IN A ROW. Overnight interest rates have spiked. And now economists say the Fed will remain active in the repo market for the time being. Glenn explains why these signs show there’s something wrong with the market and we need to do something before another crash.
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