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Narrated by James Marriott
Next month marks 15 years since Lehman Brothers went phut. The bank collapse that spawned an award-winning play and provided images of employees carting away their belongings in cardboard boxes is probably as good an event as any by which to date the global financial crisis.
Those young bankers who stuck with the industry will have known little but abundant money in the intervening period. Now, in their late thirties or early forties, they will occupy pivotal positions within the financial system, but not necessarily be equipped to handle the shift in economic conditions that has taken place in the past year. I’ve seen much evidence of denial, if not outright bewilderment, among this cohort.
Markets adjusted swiftly to the outbreak of war in Ukraine