Last fall, there was a lot of buzz about moving money out of banks and into credit unions. Grand claims were made about results. I had my doubts—politically (see here) and financially (see here). One can disagree with me on the politics, but it turns out that not much money was moved. The Federal Reserve is out with its flow of funds accounts for the fourth quarter. These are a detailed accounting of assets, liabilities, and money flows throughout the U.S. financial system. And before anyone says that the Fed is lying to defend its… Read More