The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (88800)	9/11/2007 9:40:32 PM
From: Wildstar	Read Replies (4) of 306849

Still, I don't think the Fed should be abolished. The Fed has a place as it was originally created as a lender of last resort in a banking crisis, to prevent bank runs. Also, they are important during serious disruptions in the market for money, as in exogenous events like the 9/11 attacks where large portions of the clearing mechanism for transactions were disrupted because they were so centralized in lower Manhattan. The service they provided post 9/11 was important to restore function quickly to a market where time literally is money. Doesn't having the Fed as the lend of last resort distort the price of borrowing money?

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