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After two decades of everyone — including dead people — being able to get mortgages and having a fistful of credit cards, credit is drying up.

Faith and hope, that's what fractionalized banking is all about: faith that not everyone shows up for their money all at once and hope that the bank's loans are always paid back. In the movies, the director and screenwriter can make it all work out. In real life, Keynesianism doesn't work; the government bails out the bankers and then depressions last a long time.

Doug French, American Madness.