Friday, September 09, 2016

The Financial Crisis Is Not Over
"The crisis is not over. The damage done has yet to be repaired fully .. Years after the collapse of Lehman Brothers, interest rates are at historic lows; government deficits are high; and two of Britain’s biggest banks remain in state hands. Low rates are driving pension deficits higher. Plugging these deficits diverts funds from companies — funds that might otherwise have gone into building up their businesses. The financial system remains fragile. Regulators have tried but failed to strengthen the system adequately .. The crash and its aftermath have cost the economy, business, UK Treasury and bank shareholders far more than any benefits gleaned from soft-touch regulation. The competitiveness gained proved both illusory and short lived."
- Robert Jenkins in the Financial Times
link here to the essay

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