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Economy and General Discussion
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Where's the Cash?
Posted by: Mish
Date: 11/29/2007 03:57PM
Where's the Cash?
http://globaleconomicanalysis.blogspot.com/2007/11/wheres-cash.html
Corporations like Ctigroup, Ambac, etc have been scrambling for cash. So where is the cash? The answer is darn near every cent has been lent out. The reserve requirement on savings accounts is zero and because of sweeps checking account reserves are minimal as well. Citigroup had to be bailed out by Abu Dhabi as cash is piling up overseas.
BTW - This is very hard to describe in a paragraph. There is a lot going on here that people do not realize.
Mish
http://globaleconomicanalysis.blogspot.com/2007/11/wheres-cash.html
Corporations like Ctigroup, Ambac, etc have been scrambling for cash. So where is the cash? The answer is darn near every cent has been lent out. The reserve requirement on savings accounts is zero and because of sweeps checking account reserves are minimal as well. Citigroup had to be bailed out by Abu Dhabi as cash is piling up overseas.
BTW - This is very hard to describe in a paragraph. There is a lot going on here that people do not realize.
Mish
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