Monday 03 Aug 2020 | 20:27 | SYDNEY
What's happening on
Stephen Grenville's picture
People | experts Stephen Grenville
Nonresident Fellow
Lowy Institute
Stephen Grenville's picture
Areas of ExpertiseRegional economic integration; Australia's economic relations with East Asia; international financial flows and the global financial architecture; financial sector development in East Asia

Banks are still too big to fail

The 2008 Global Financial Crisis demonstrated the damage that a malfunctioning financial sector can cause. Even the then US Federal Reserve Chairman Alan Greenspan, the high-priest of financial deregulation, confessed that he was in a state of ‘shocked disbelief’ that the self-interest of