re: #183 FurryOldGuyJeans

Sounds a lot like the total cluelessness when the S&L crisis erupted.

That cluelessness was a similar surprise, but for “better” reasons, when the government opened up money market funds to the public, disintermediating the classic banking system and forcing them into a much stricter financial system.

Arguably, the entire banking system was effectively nationalized at that time, but we only noticed recently. How d’ya like that analysis!