The cause of banking crises since the debacle in the 1980s remains unchanged. Incentives encourage executives to take excessive risks, with few consequences if bets turn bad. It’s happening again.
SVB encountered a perfect storm of high interest rates and fearful clients.
AP Photo/Jeff Chiu
Decentralized finance makes it easier for virtually anyone to take advantage of financial markets without the need for a bank, but there are new risks as well.
Traders on the floor of the New York Stock Exchange in 1955.
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The global economy is currently experiencing its severest contraction since the 1930s. While capitalism will survive, its fundamental structure can change at critical historical junctures.
The financial ravages caused by COVID-19 will particularly impact Black seniors.
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The Trump administration has revised CDC health guidelines and undermined its own experts, making it harder for science to prevail over politics in US’s coronavirus strategy.
Markets panicked following the collapse of investment bank, Lehman Brothers, in 2008.
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A universal basic income could provide financially precarious people with the money they need. And it would keep money flowing through the financial system.