Should the world have allowed the 2008 economic crisis to play out?

In a few short weeks it will be 10 years since the crash of 2008. By this time 10 years ago, it was already clear that finance — or at least Wall Street and the City of London — was dangerously over-extended. To those in the business, it was no longer a question of “if”, but “when”. The wise began to unload their most worrying bets; the foolhardy wondered if they would make money in the fall. As the movie Margin Call — easily the best thing written or filmed about the crisis — explains, only the person who gets out first survives. That Sept.....

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