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|User Info||Rebuttal To Mish: FRL; entered at 2009-05-07 19:29:32|
Registered: 2009-04-08 Houston, TX
But it's a bit heavy handed to say this is the fault of fractional reserve lending and that the only fix is to get rid of FRL in favor of full reserve lending.
Sure, I agree.
I just feel that there is validity to the argument against FRL. There tends to be a lot of "Its the way its always been so its the way it will stay" going around lately. Unfortunately that is probably the most relevant argument in support of fractional reserve lending, since its so ingrained into our socio-economic fabric.
As soon as I saw Mish's blog I knew that Karl was going to sound off on it.