{"id":192273,"date":"2009-04-22T23:07:00","date_gmt":"2009-04-23T04:07:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/04\/22\/doh-i-miss-the-obvious\/"},"modified":"2009-04-22T23:07:00","modified_gmt":"2009-04-23T04:07:00","slug":"doh-i-miss-the-obvious","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/04\/22\/doh-i-miss-the-obvious\/","title":{"rendered":"D&#8217;oh!  I Miss the Obvious!"},"content":{"rendered":"<p>And the Shrill One, Paul Krugman, <a href=\"http:\/\/krugman.blogs.nytimes.com\/2009\/04\/21\/vast-majorities\/\">catches it<\/a><\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>So the market was greatly reassured when Tim Geithner declared that the \u201cvast majority\u201d of banks are well capitalized. Count me as baffled. &#8230;..<\/p>\n<p>After all, there are a lot of banks in America. There are 1,722 institutions on the Fed\u2019s list of \u201clarge commercial banks\u201d. And I have no doubt that most of these banks \u2014 indeed, the vast majority \u2014 are in fine shape. That\u2019s because they\u2019re regional institutions that never got into the risky games played by the big guys.<\/p>\n<p>But the big guys are where the money is. &#8230;.<\/p><\/blockquote>\n<p>The construction of the statement was odd, and I noticed it, but missed the connection, that about 20 banks control something in excess of \u00be of the assets out there.  If 17 of those banks are insolvent, only 1% of the banks would be in trouble, but a majority of bank holdings would be wiped out.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>And the Shrill One, Paul Krugman, catches it So the market was greatly reassured when Tim Geithner declared that the \u201cvast majority\u201d of banks are well capitalized. Count me as baffled. &#8230;.. After all, there are a lot of banks in America. There are 1,722 institutions on the Fed\u2019s list of \u201clarge commercial banks\u201d. And &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,978],"tags":[],"class_list":["post-192273","post","type-post","status-publish","format-standard","hentry","category-finance","category-politics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192273"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192273"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192273\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}