'Things Fall apart the Centre does not Hold' -The Battle to save Wall Street, 2008
Bank deregulation in the 1990s, the pressure to increase home ownership thereby encouraging lax mortgage standards, very low interest rates which created a liquidity bubble, and the system of Wall Street bonus payments that encouraged short term risk taking all served to create the conditions for Wall Street to crash. A problem in the markets was predicted and the interconnectedness of global financial markets left them vulnerable to a panic. Could they prepare for an actual