The great liquidity illusion ... and how regulators can make sure it never happens again

Neil Kinnock, former leader of the UK's Labour Party, once advised his colleagues: "If you find yourself in a hole, stop digging." Although he was speaking about party politics, his words could not be more appropriate in the midst of the current financial crisis.

The global financial system has dug itself into a hole; and if left to its own devices, it will continue digging unless stopped.

Faced with the tangible danger of a global financial recession and even depression, the world's finance minis

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: