Helicopter Ben Flies Again

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Says ChopperMan:

“…the availability of the discount window is potentially significant for banks, as it gives them greater confidence that they can obtain additional liquidity as necessary. Access to a backstop source of liquidity in turn reduces the incentives of banks to limit the credit they provide to their customers and counterparties.

(Via Liberalismo.org)

8:22 am on October 16, 2007