Financial System

A Decade After The Great Recession, Is The Global Financial System Safer?

The Great Recession, as harrowing as it was a decade ago, seems to have faded from public memory. It is safe to say that a general sense of normalcy pervades the lives of most Americans. Today, the economic environment could not be more optimistic: The U.S. stock market is hitting new highs, unemployment is at historically low levels and home prices have rebounded to their pre-crisis highs. Banking profits have roared back.

Has the global financial system truly recovered? “We have seen numerous regulatory reforms since the financial crisis, and many of them have undoubtedly enhanced the resilience . . .


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