Tett:The next financial crisis may be coming soon
One problem haunting finance, as Carmen Reinhart, chief economist of the World Bank, notes, is that leverage at many institutions was sky-high even before Covid-19
Hyun Song Shin, chief economist of the Bank for International Settlements, has noted. “The immediate liquidity phase of the crisis is [now] giving way to the solvency phase, and banks will undoubtedly bear the brunt.”
Gillian Tett FT 24 September 2020
https://www.ft.com/content/c95e5a72-8322-4cfc-b36a-69e8998aea01
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