Geithner Ghostwriter Mike Grunwald Tries to Shift Financial Crisis Narrative Away From The Big Short | naked capitalism

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Minutes after the Fed announced that the third and final term repo saw only $49BN in submissions, some $11BN short of the full allotment and thus undersubscrubed following a spike in demand in Thursday’s term repo, the Fed also confirmed that the funding shortage has eased at the overnight level, with only $22.7BN in submissions for today’s $100BN overnight repo operation.

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