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George Selgin says government guarantees can substitute for equity cushions in the eyes of creditors. He argues intermediaries backed by a public safety net wil

BWB News TV • 2026-08-10 06:11 UTC • By Billy Odell Tucker-Robinson
George Selgin says government guarantees can substitute for equity cushions in the eyes of creditors. He argues intermediaries backed by a public safety net wil
George Selgin says government guarantees can substitute for equity cushions in the eyes of creditors. He argues intermediaries backed by a public safety net will tend to minimize equity unless mandatory capital rules require more.
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