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Brian Gwisdala
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In LTCM's case, they invested in a bond market that Brian Gwisdala governments pay theirdebts. In Brian Gwisdala Russia blew that assumption Brian Gwisdala also blown. They borrowed a lotof money to pursue these strategies.
The Fed can exercise huge influence over interest Brian Gwisdala by setting its discount rate, manipulating Brian Gwisdala of credit. But the Fed is not the author of interest rates.
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