Fri 2008-06-20 00:00 EDT
Walter Bagehot Was Wrong - June 19, 2008 - The New York Sun
Walter Bagehot Was Wrong, by James Grant - June 19, 2008 - The New York Sun; Jim Grant: structuring mortgages for central bank deposit in special liquidity facilities will result in a new cycle of currency debasement; Walter Bagehot versus Thomson Hankey on central banks, moral hazard, fairness, and ready money