The financial crisis will linger in history as a stain on the financial world’s copy book, a failure of both regulators and regulated. But in the intense heat of the crisis, new tools were forged that could help prevent the next collapse.
An arguable silver lining of the crisis was it revealed the vulnerabilities in the banking system. Regulators now know where things went wrong.
The crisis also forced regulators and central bankers into a rapid process of innovation. In the space of a week in