Speech by Adair Turner, Chairman, FSA
Clare College, Cambridge
2011 Clare Distinguished Lecture in Economics and Public Policy
Between 2007 and 2009 the financial systems of the developed world suffered a major crisis, the after-shocks of which we are still seeking to manage. As a financial crisis, it was as big as anything in 75 years; in the UK you have to go back to before the First World War to find an equivalent scale of bank losses or liquidity runs. And the crisis has had major macroeconomic and human consequences – unemployment, real income loss, some house owners in negative equity, and taxpayers burdened for a decade or more with dramatically increased government debts.
So, not surprisingly, the crisis provoked much discussion of the need for radical reform...
Read the full speech [PDF]
Speech slides [PDF]
No comments:
Post a Comment