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The Existential Crisis that is Stalking Economic Principals

Covering money and banking is a full-time job

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Posted in 2007-08 Financial Crisis, Contemporary economics Tagged with: ,

Despite its longstanding interest in the problem of money (beginning with getting more of it), Economic Principals has been reluctant to turn to coverage of banking because it’s essentially a full-time, boring job, for writer and reader alike, and we seek to cast a pretty wide net. A Wall Street Journal series last week indicated the scope of the problem. “What Is A Bank?” featured eight stories over four days by eleven reporters on three continents, beginning with “The Existential Crisis That’s Stalking Banks.” Sample fact: The mighty Goldman Sachs in the last twelve months delivered a return on equity