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Program might be used to or result in some way a crowding out of a significant portion of the economy shortterm private credit liability. And then it goes on to consider this is where i got into trouble. Such a Development Might conflict with the fifth Monetary Policy octave i got confused i will tell you i was on an amtrak south of washington behind a Freight Train when i read that section. That had something to do with it. But ting that section and one or two others could have been simplified a little bit and then clarified. I probably said enough by now to signal my high regard for this book, i can do it. I can do it. [laughter] but in closing let me salute that the very strength of the book for me actually highlights if the fed and the fdsc needs strong and essentially discretionary Emergency Powers to prevent or confront o runs how do we reck are sile such powers with legitimacy requirements of a democratic society. This is a Critical Condition in today political environment with

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