This so-called "naked" shorting is risky
footnote 59
The implosion of the subprime mortgage market in the US is frequently called a "Minsky moment."
the wide belief among neoclassical economists and neoliberal policy-makers that democracy has an inherent "inflationary bias"
used as justification for putting central banks outside the reaches of democracy (insulating them)
Regulation Q capped interest rates on domestic demand deposits (basically savings and checking accounts [...]). This was designed to (a) discourage local banks from depositing their money with big banks, and instead to lend local locally, and (b) limit competition among banks, thereby ensuring the stability and survival of those same local banks.
mentioned as one of the best-
known capital controls implemented in the US during the Long Boom
the "local locally" part is, I think, a typo in the original
the "interest equalization tax" [...] imposed an export tariff on all US capital leavin the nation at a rate that equalized opportunities for financial profit at home and abroad
mentioned as one of the best-
known capital controls implemented in the US during the Long Boom
