Paul Krugman

@paulkrugman ↗

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Last Checked April 3, 2023

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Sat Mar 11 11:02:25 +0000 2023

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Paul Krugman @paulkrugman

Conventional banks also earn money from credit card balances, which is similar but even more so, with a lot of inertia in the customer base 7/ — PolitiTweet.org

Posted March 11, 2023

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Paul Krugman @paulkrugman

Conventional banks make money in part because they know something about/have special relationships with their borrowers. They lend money to businesses and consumers, at above market rates bc there's default risk, which they think they can manage. 6/ — PolitiTweet.org

Posted March 11, 2023

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Paul Krugman @paulkrugman

SVB had little of this. It was sitting on a huge pile of cash, without good places to put it to work. So what it did was put a lot of money into long-term securities, which at the time were paying much higher interest than short-term assets, incl deposits 8/ https://t.co/Yo7HotBmqt — PolitiTweet.org

Posted March 11, 2023