Economic Commentary
Payment System Risk and Financial Reform
Shrinking the federal safety net must be a precondition of financial reform in the United States, or increasing bank powers will expand the realm of the economy underwritten by the taxpayer.
The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit clevelandfed.org for updates.
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