if the assets have genuinely lost value | Bookmarker

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

[...] But if the assets have genuinely lost value, then the central bank must be careful not to subsidise insolvent undertakings. [...]

this is almost a bromide but really, why does it matter if no one ever finds out? it's all built on trust anyway

(on lenders of last resort)

—p.191 Heroes and Villains: The Role of Central Banks (156) by Mervyn King 7 years, 4 months ago