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Divided States

In: Minding the Markets

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  • David Tuckett

Abstract

The remarkable fact about the events leading up to 2008, when many of the world’s financial institutions created unsustainable financial relationships between themselves, was that they appear to have done so without anyone really realising it. This was not because it was impossible to know, however, but, according to later investigations, because somehow almost everyone turned a blind eye.1 With a few exceptions (Lewis 2010) they did not think about what was going on and they did not investigate what was going on. Whether they ran the financial institutions that were at the centre of the new developments or analysed and invested in them, those who could have been curious ignored explicit warnings and warning signs and also flew in the face of history.

Suggested Citation

  • David Tuckett, 2011. "Divided States," Palgrave Macmillan Books, in: Minding the Markets, chapter 4, pages 71-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30782-7_4
    DOI: 10.1057/9780230307827_4
    as

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