2012-10-17 — ml-implode.com
The Fed treated the problem purely as a liquidity crisis, which it was... in a way... and in a way... not so much. It could also be described as a crisis of lost trust.
The problem with lost trust is that you can't BUY it back, and buying economic recovery is what the Fed is good at. Trust isn't something that can ever be bought or sold.
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