The Forgotten History of the Financial Crisis

" 'September and October of 2008 was the worst financial crisis in global history, including the Great Depression.' Ben Bernanke, then the chair of the U.S. Federal Reserve, made this remarkable claim in November 2009, just one year after the meltdown. Looking back today [2018], a de...

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Bibliographic Details
Published in:	Foreign affairs (New York, N.Y.) N.Y.), 2018-09, p.199
Main Author:	Tooze, Adam
Format:	Magazinearticle
Language:	eng
Subjects:	Bank failures Banks and banking Banks and banking, Central Business depression (1929-1939) Financial crises Financial crises, International aspects Financial crises, International aspects, Statistics Financial institutions Financial institutions, International Financial institutions, Law and legislation International finance Recessions
Online Access:	Get full text
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Summary:	" 'September and October of 2008 was the worst financial crisis in global history, including the Great Depression.' Ben Bernanke, then the chair of the U.S. Federal Reserve, made this remarkable claim in November 2009, just one year after the meltdown. Looking back today [2018], a decade after the crisis, there is every reason to agree with Bernanke's assessment: 2008 should serve as a warning of the scale and speed with which global financial crises can unfold in the twenty-first century." (Foreign Affairs) This article discusses what lessons should have been derived from the 2008 financial crisis.
ISSN:	0015-7120 2327-7793