When, in 2007, a real estate bubble burst in the US, banks – not only American banks – were threatened by failure, and had to be saved from bankruptcy by political intervention. Apparently banks had lacked resilience. As the crisis spread, investment funds, the stock market, and eventually insurance companies became implicated and suffered losses.
CITATION STYLE
Mayntz, R. (2016). Resilient financial systems: Methodological and theoretical challenges of post-crisis reform. In New Perspectives on Resilience in Socio-Economic Spheres (pp. 63–82). Springer Fachmedien. https://doi.org/10.1007/978-3-658-13328-3_4
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