Extraordinary Measures for Ordinary Times
The legacy of the 2008 financial crisis ten years later is that it put a premium on unconventional measures. As policymakers scrambled in search of big guns for big problems, they set the stage for the return of an old character: a strongman willing to pull the trigger.
https://prosyn.org/YxNBzHx
MUNICH – It has been ten years since the financial crisis went international. Until July 2007, the subprime mortgage crisis seemed like it was strictly a problem for the United States. But then Landesbank Sachsen and IKB Deutsche Industriebank, two publicly-owned regional German banks, had to be bailed out, and it suddenly became clear to policymakers just how interconnected the global financial system had become.