Michael Milken, Chairman of the Milken Institute, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. (Photo by Patrick T. FALLON / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)Patrick T. Fallon | Afp | Getty ImagesFamed investor Michael Milken said Tuesday that the current banking crisis stemmed from a classic asset-liability mismatch that has played out miserably time and again in history.”You shouldn’t have borrowed short and lent long… Finance 101,” Milken said on CNBC’s “Last Call.” “How many times, how many decades are we going to learn this lesson of borrowing overnight and lending long? Whether it was the 1970s, the 1980s and 90s.”related investing news 9 hours ago “Again here, the banks have enough credit, they had enough equity, they had enough ability to absorb credit losses that are coming. However, what they did is they doubled, tripled, quadrupled their size by borrowing …
