September 15th 2008 was a shattering point for markets globally with Lehman Brothers, the 1 trillion dollar daily turnover behemoth, suddenly filing for chapter 11 protection in the midst of the largest crisis’ in global liquidity ever recorded. The recent FCIC hearings in the United States have regrouped some key actors to these events to review and re-digest some of the most troubling aspects to the crisis. The question remains, however, how could we prevent this event from ever happening again.
Tag Archive 'Government'
Financial institutions are often criticized for being too opaque or pushing too strongly for self-regulation as opposed to external intervention. But perhaps this concern is based on the reality of finance, of its embedded nature in our lives and in its purpose of being a reliable intermediary in our economic lives. Perhaps what happens in finance is in itself financial and therefore, in and from itself, best left to finance?