The American exception
Sep 18, 2023
It is now 15 years ago that Lehman Brothers has gone bankrupt. The repercussions of the fall-out of a systemic bank have been felt worldwide with a detrimental impact on growth, a push towards re-regulation of the banking sector, a major debt crisis and ultra-low interest rate policies pushed by central banks. One of the surprising aspects of this is that 15 years later, the real winner of the crisis is the US stock market that has increased by 350% while markets outside of the US went pretty much sideways.
