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The secret history of the banking crisis

Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for?

By Adam Tooze   August 2017

Tough day: A broker looks at his screens at the Frankfurt Stock Exchange on the day Lehman Brothers filed for bankruptcy. Photo: THOMAS LOHNES/AFP/GETTY IMAGES

 

It is a decade since the first tremors of what would become the Great Financial Crisis began to convulse global markets. Across the world from China and South Korea, to Ukraine, Greece, Brexit Britain and Trump’s America it has shaken our economy, our society and latterly our politics. Indeed, it has thrown into question who “we” are. It has triggered both a remarkable…

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