@LHSummers Oops...@LHSummers I don't think you wanted to write this tweet: maturity transformation is a (if not the) key function of banking- taking funds from agents with short term surplus and transferring to agents with long term needs (e.g. turning deposits into mortgages).

🐦🔗: https://n.respublicae.eu/lugaricano/status/1635447777366016000