• The financial crisis was triggered nearly 11 years ago by a run on the bank in staterun
    cash funds
  • On the 10th anniversary of the Lehman default, few people seem to understand this
  • This misunderstanding is likely going to produce more brief stock market panics
    and bouts of volatility in the next 3-5 years before the next financial crisis sets in
  • This misunderstanding will likely confuse policymakers and investors when the next
    crisis begins

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