Posted: Mar 24, 2014 4:27 pm
by Ihavenofingerprints
The same basic mistakes were made in Minsky's time and will continue to be made into the future. Plenty of banking systems were barely impacted (relatively) during the financial crisis. These simple issues can be fixed with proper regulation, and it's in the banks interest to work with the government in this regard so they can ensure long term survival of the industry.

I'd be surprised if the US ever learn though and for as long as they are central to the world economic system we will all be impacted by the "shocks".