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It doesn't do monetary policy very well either ...

If I, in my role as a Money Market Bank, lend you $100 million and you, in your guise as a Financial Investment Firm, lend it to Jerome, in his guise as an oil investment banker, who lends it back to me total GDP has risen by $300 million even tho' no economic activity has taken place.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Jun 25th, 2006 at 10:26:22 AM EST
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