3 min read.Updated: 13 Sep 2018, 11:10 PM ISTLivemint
Macroeconomic management has become more difficult for developing countries like India due to the global monetary non-system
This coming weekend marks the 10th anniversary of the collapse of Lehman Brothers, which pushed the global financial system to the brink of a breakdown. The fall of Lehman was a consequence of excesses built in the financial system over the years; if not Lehman, it would perhaps have been some other firm. After all, another large investment bank, Bear Stearns, had to be bailed out earlier in 2008. Ten years after the financial crisis, the biggest question is: Have those excesses been addressed well enough to guard against another crisis?