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[Pen-l] Re: financial melt-down
- To: pen-l <pen-l@xxxxxxxxxxxxxxxxxx>
- Subject: [Pen-l] Re: financial melt-down
- From: "Sabri Oncu" <sabri.oncu@xxxxxxxxx>
- Date: Sun, 21 Sep 2008 18:50:32 -0400
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Julio:
> Following Sabri's lead, Rubini is calling them "shadow banks."
Actually, I am not the one who invented this "shadow baking system"
concept. It came out about a year ago, and if I am not wrong, someone
at PIMCO coined it, and Bill Gross popularized it. So, we are all
following the lead of PIMCO.
For example, here is Krugman following the lead:
http://www.nytimes.com/2008/09/15/opinion/15krugman.html
Best,
Sabri
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