The Washington Post, October 12, 2019: We’re Still Taking Better Care Of Banks Than People
A few weeks ago, the “repo market,” an obscure but important corner of financial markets, experienced a significant disturbance. The Federal Reserve, tasked with managing the plumbing of this part of the system, jumped in and fixed the problem quickly and effectively. That’s all good, but a question that has lingered since the Great Recession and bank bailouts of 2009: Why do we immediately throw whatever it takes at banks and credit markets when something goes wrong but too often fail to reflect the same urgency when regular people are hurting economically? And what can be done to bring some balance to this picture?
