When large companies take on risk, then they impose risks on the rest of the system. And these are systemic risks and these systemic risks we never used to think were really that important, but as soon as we recognize… — Robert F. Engle Copy Share Image
“To enable lending to proceed when the IMF’s sustainability criteria were not met, its bureaucrats designed the “systemic risk waiver.” It was a model of circular reasoning that might well be taught to philosophy students. “Severe debt crises all carry… — Michael Hudson Copy Share Image
