Opinion | Post Lehman: Are central banks too powerful?
The power of unelected technocrats vested with delegated discretionary powers need to be reviewed, if not recalibrated
The 10th anniversary of the collapse of the Lehman Brothers later this week is a moment to reflect, especially on the factors that triggered a global contagion—something that had threatened to annihilate the world economy, but was eventually prevented, albeit at a huge cost. Because, if nothing, the crisis effected by the fourth largest financial institution on Wall Street can recur if we continue to ignore the causes. But given that public memory, especially for uncomfortable experiences, is short, there is the risk that the anniversary would pass as just another day.