dc.contributor.author | Ricks, Morgan | |
dc.date.accessioned | 2015-12-08T19:50:58Z | |
dc.date.available | 2015-12-08T19:50:58Z | |
dc.date.issued | 2011 | |
dc.identifier.citation | The New Republic (Dec. 17, 2011) | en_US |
dc.identifier.uri | http://hdl.handle.net/1803/7317 | |
dc.description | article published in magazine of political commentary | en_US |
dc.description.abstract | Any serious program for Wall Street reform should start with two words: “term out.” “Terming out” is a financial term of art, but its meaning is easily grasped. It simply means funding your business with long-term financing instead of short-term IOUs. To a far greater extent than is commonly understood, our financial sector funds its operations with extremely short-term borrowings. These IOUs must be paid back in a day, a week, or a month. By contrast, termed-out financial firms shun borrowings that come due in less than a year. A terming-out requirement would be costly for Wall Street, but the reward would be a safer and more resilient financial system. That’s a trade we should be willing to make. | en_US |
dc.format.extent | 1 PDF (5 pages) | en_US |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en_US |
dc.publisher | The New Republic | en_US |
dc.subject | Wall Street reform | en_US |
dc.subject.lcsh | Securities industry -- United States | en_US |
dc.subject.lcsh | Long-term business financing -- United States | en_US |
dc.subject.lcsh | Short-term business financing -- United States | en_US |
dc.title | A Former Treasury Adviser On How to Really Fix Wall Street | en_US |
dc.type | Article | en_US |