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How Stable Is the Global Financial System?
There is little disagreement that the immediate response to the 2008 financial crisis averted another Great Depression. But whether the safeguards in place today are enough to prevent a similar large-scale disaster remains an open question.
https://prosyn.org/VZ0CwVi
SANTA BARBARA – Just over a decade ago, on August 9, 2007, the French bank BNP Paribas limited investors’ access to three of its money market funds, worth a total of around $2.2 billion. The BNP freeze was unprecedented, but it received little attention outside the financial world at the time.