Seems our intrepid Congressmen were sneaking in a law that allows banks to hold zero reserves - that is right, zero reserves - starting in 2011; and now they've used the bailout bill that failed to move up the date to October 1, 2008.
All as per this dkos diary.
Tuesday, September 30, 2008
Zero Reserves
2008-09-30T07:55:00-04:00
Arun
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