Member Video #23: Collateral Practices
Ostensibly cheating at Treasury and GSE bond auctions, the method to what seemed to be madness had everything to do with collateral. Here we go further into the collateral practices of the eurodollar system by reviewing the Salomon Brothers scandal. What the firm and so many others were up to, how it worked, and what it can still teach us about timeless monetary principles of the eurodollar world.
