9/15/2010

Two years after the collapse of Lehman Bros. froze financial markets, the world remains vulnerable to the failure of a big, cross-border bank, economists said. A banking culture that led the U.S. into its worst recession since the 1930s has not changed, and the sector is still essentially unreformed, they said. Banks in the U.S. will need to raise an additional $80 billion in capital if the nation slips into a second recession, the International Monetary Fund said.

Related Summaries