Anniversary of Lehman's collapse reminds us – booms are often followed by busts
- Written by Anjan V. Thakor, Professor of Finance, Washington University in St Louis
Only a decade has passed since the collapse of Lehman Brothers, and it seems the mortgage crisis and subsequent Great Recession are already ancient history in the minds of many investors, bankers and regulators.
All it took was a few short years of low default rates and good loan growth to re-create the kind of heady atmosphere of irrationalexuberan...
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