George Selgin, director of the #Cato Institute's center for monetary and financial alternatives, calls in to discuss remarkable recent events in the banking system and the potential implications.
1:21 A money market which fails to clear5:45 Interest on excess reserves: Unintended consequences11:24 Too much collateral = too much debt?15:50 More QE on the way20:10 Fixes to fixes to fixes
James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Crash That Cured Itself. Grant's television appearances include "60 Minutes," "The Charlie Rose Show," Bloomberg TV, CNBC and other well-known financial news sources. His journalism has appeared in a variety of periodicals, including the "Financial Times", "The Wall Street Journal" and "Foreign Affairs."