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A man receives a non-negotiable junk mail check for $95,093.35 in the mail, and decides to deposit it in his bank account as a joke. It actually clears his account: The first friend I phoned informed me that it was no mistake at all. Just standard bank policy, crediting my account with the dollar amount […]

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The Bank of England’s Andrew Haldane on banking, risk and how to bring social and financial equity back into the system: Consider the effects of the too-big-to-fail problem on risk-taking incentives. If banks know they will be bailed out, those holding their debt will be less likely to price the risk of failure for themselves. […]

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The Fed, headed by Chairman Ben S. Bernanke, argued that revealing borrower details would create a stigma — investors and counterparties would shun firms that used the central bank as lender of last resort — and that needy institutions would be reluctant to borrow in the next crisis. Clearing House Association fought Bloomberg’s lawsuit up […]