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The S&Ls were simultaneously losing money on long-term fixed-rate mortgages,...
Author:
Niall Ferguson
Book:
The Ascent of Money: A
Viewed:
53 -
Published at:
4 years ago
The S&Ls were simultaneously losing money on long-term fixed-rate mortgages, because of inflation, and haemorrhaging deposits to higher-interest money market funds.
( Niall Ferguson )
[ The Ascent of Money: A ]
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