There's something kind of weird about banks. They get people to deposit money, then they lend that money out, and there's all these weird ways that they operate and make money, but deposits seem to be the weak link. At some point I'd expect a bank like business to exist that just didn't take deposits, but still did all the other bank-like stuff.
> One would think, as you put on the parachute before jumping out of a plane, that the Fed would have checked that raising interest rates to combat inflation would not tank lots of banks.
Well, that’s not what I would have thought but it’s refreshing to run across an optimist now and again.
