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Patrick McKenzie@patio11• almost 3 years ago
Replying to @patio11
The number of systemically important institutions which have failed is believed to be lower than is true, and the degree to which they have failed is underestimated, and contagion will not cause either of those situations to organically improve but rather do much the opposite.
Patrick McKenzie@patio11• almost 3 years ago
Replying to @patio11
A shoe. https://t.co/4fwBsZjrTb (I would not describe a $200 million hedge fund as systemically important for crypto, for what it is worth.)