Back in 2008, in the aftermath of a mortgage security meltdown there were so much distrust among banks that letters of credit and "eurodollars"liquidity -- the entire basis of payment for international trade, were refused for a month or so.
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Fast Collapse or Slow? I Think Fast
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Back in 2008, in the aftermath of a mortgage security meltdown there were so much distrust among banks that letters of credit and "eurodollars"liquidity -- the entire basis of payment for international trade, were refused for a month or so.