jacoxnet | Shared With: Everyone - Mar 24 2008 | History, news
Quoted: Over time, however, many of the roles traditionally filled by regulated banks were taken over by unregulated institutions — the “shadow banking system,” which relied on complex financial arrangements to bypass those safety regulations.
Now, the shadow banking system is facing the 21st-century equivalent of the wave of bank runs that swept America in the early 1930s. And the government is rushing in to help, with hundreds of billions from the Federal Reserve, and hundreds of billions more from government-sponsored institutions like Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
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1 FaverViewed: 5 TimesQuoted: He's just like George Bush, except older and with a worse temper.
- shiwani - 10 hours ago1 FaverViewed: 1 Time
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This is a must-read for NBA fans and a great article in general. My favorite part is when Elgin goes Clay Davis on chartered flights and the pampered NBA lifestyle and then asks casually, "You ever hear about the time we crashed in a cornfield?"
Also, Mike Dunleavy is a cheater. Tell your friends.
1 FaverViewed: 4 TimesQuoted: But Elgin's 38-19-5 makes no sense whatsoever. I don't see how this happened. It's inconceivable. A U.S. Army Reservist at the time, Elgin lived in a barracks in the state of Washington, leaving only whenever they gave him a weekend pass ... and even with that pass, he could only fly coach on flights with multiple connections to meet the Lakers wherever they happened to be playing. Once he arrived, he would throw on a uniform and battle the best NBA players alive on back-to-back nights.
- souloyster - Jan 27 20081 FaverViewed: 11 Times
- ms.kruse - 5 days ago1 FaverViewed: 5 Times
