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What if we swapped the TSA and the Fed?

From Emanuel Derman’s Blog:

Trading Places

I had a fantasy in which the Fed and the TSA (Transportation Security Administration) switched roles.

If a bank failed at 9 a.m. one morning and shut its doors, the TSA would announce that all banks henceforth begin their business day at 10 a.m.

And, if a terrorist managed to get on board a plane between Stockholm and Washington, the Fed would increase the number of flights between the cities.

What a great way to point out the irony of the Fed’s response to bank failures, and the TSA’s response to terrorism attempts.