Challenges ahead for financial sector

It is difficult to escape the conclusion that the shape of the financial sector will be fundamentally changed by the credit crunch now under way.

13th September, 2008

It is difficult to escape the conclusion that the shape of the financial sector will be fundamentally changed by the credit crunch now under way.

Last week’s decision by the Bush government to rescue the mortgage financing institutions Fannie Mae and Freddie Mac is not an end point - it is just the latest episode in a crisis that still has away to run.

The US authorities probably had little option. Yet it...

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