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Why does the segmented markets theory suggest think that bonds of different maturities are not perfect substitutes for each other?
Savings and Loan Debacle
A financial crisis in the United States during the 1980s and 1990s involving the failure of savings and loan associations, largely due to risky business practices.
Checkable Deposits
Consist of money in bank accounts that can be drawn upon by writing a check or using a debit card, offering immediate liquidity.
Savings and Loans
Financial institutions that specialize in accepting savings deposits and making mortgage and other loans.
Credit Card Companies
Financial institutions that issue credit cards to consumers, facilitating electronic payment transactions and extending credit.
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