from Patrick McKenzie | by Patrick McKenzie

Patrick McKenzie


5 months ago

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"Diagram out the consequences to Bank of America USD at Chase bank being indefinitely frozen" would actually be a pretty good interview question for a lot of jobs.

"Can you sketch them for me?" A war room in effectively every financial institution in the country, for starters.

"Can Bank of America have deposits at Chase bank?" I mean, straightforwardly yes? They do? "Doing what?" All. The. Things.

(I am using BoA and Chase here as examples of systemically important financial institutions not to actually make one think about those two firms in particular.)

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