Liam Halligan

Why do banks and governments seem to have learned nothing from the financial crash?

With September marking a decade since the Lehman Brothers implosion, stand by for a slew of economic retrospectives. Any meaningful analysis, though, needs to get beyond historic balance sheets and plunging share price graphs — however dramatic the data.

For the most significant impact of the biggest financial and economic upheaval since the Great Depression has been the growing loss of faith in western liberal capitalism.

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