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How well-meaning legal and accounting principles caused the last financial crisis and how to avoid them causing the next
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One of the puzzles of the 2007/8 credit crunch is how a relatively small loss of capital in a tiny market segment was transformed into a global financial crisis costing close to $1trn and sending the world economy into slowdown. Key players in this tragedy are a set of legal and accounting principles that are well-meaning, but turn financial hiccups into liquidity black holes. We will discuss regulatory solutions that would avoid this happening next time.
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This event was on Mon, 24 Nov 2008
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