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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?


To: Jess Beltz who wrote (41671)12/31/1998 10:15:00 AM
From: yard_man  Read Replies (2) | Respond to of 132070
 
If the fractional reserves of the banks and the S&Ls are the same %-wise and these asset backed securities do not count as borrowing against those reserves (thus the banks can loan more than if these mortgages, etc. were carried on their books) then the total amount of debt has grown beyond what it would otherwise be -- what am I missing, Jess. Keep it simple for me.