10 years from Lehman. And nothing has been fixed

The general storyline of the Global Financial Crisis (GFC) goes about like this: funds from all over the world headed to the US, where the banks, to finance the housing market boom, developed unsound financial products which then brought down the global financial order. Although this description has some seeds of truth, the crisis was much larger in the sense that it could not have been possible without the whole system playing along.

Also, very little has been done to fix its ‘original sins’. Moreover, by pushing the debt-cycle even further, central bankers and political leaders have created an even more dangerous economic situation by their efforts to save and stimulate the economy.

 

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