Remember the story in the text? Determine which is the most reasonable conclusion to the following scenario: Suppose Brian Moseley, watching David Letterman on TV one night, sees a Rock Classics commercial for five Billy Bragg CDs and decides to get them. He writes a check for $49.95 on his bank, the First National Bank of Cincinnati, and mails the check to Rock Classics in Athens, Georgia. Brian
Moseley
a. will never receive his CDs because checks are not allowed to cross Fed districts
b. will have to wait several months for the Atlanta Fed to consult with the Cleveland Fed to see if he is creditworthy
c. will likely receive his CDs in a timely fashion after his check goes through Rock Classics, the First National Bank of Cincinnati, the First National Bank of Athens,the Atlanta Fed, and the Cleveland Fed
d. must personally contact the Atlanta Fed to make them aware that they will have an upcoming transaction of less than $100 with the Cleveland Fed
e. must cancel his check and try a credit card order because of the lack of security between Federal Reserve Banks
C
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