The collapse of three banks on three different continents indicates a new global crisis is brewing. But it may also show that the last one never really ended and the tools used to manage the global economy simply don’t work.
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US Bank Fails for the First Time Since 2017
More than 10 years have passed since the collapse of Lehman Brothers, which burned almost $ 10 trillion in market capitalization in global equities within a month. Back then, it was determined that banks, large and small, had gotten themselves into trouble with mortgage-backed securities, the price of which turned out to be significantly overestimated.