The global financial crisis: four myths and a question
Current economic trends have busted quite a few myths and demolished many smug assumptions
Mumbai: Five years after the Lehman Brothers’ collapse, the Dow Jones Industrial Average has scaled record highs, while the S&P BSE Sensex is still well below the peak it reached in January 2008. Stock markets in the US, the epicentre of the financial crisis, have done rather well out of it. Emerging markets, which had nothing to do with either the housing bust in the US or the baroque financial structures that came crashing down, have done much worse than US markets.