A note from a careful observer of US financial conditions
569: “I fancy that the great New York (banking) institutions have more skeletons in their cupboards than anyone yet knows about for certain, and that their concealed anxieties cramp their action more than is admitted.”
Keynes. 1930. “A Note on Economic Conditions in the United States: A Memorandum for the Economic Advisory Council.” CW 20, pp. 561-94.