We are still living the (aftermath of…?) the global financial crisis that took the economy into recession starting in 2008. But it didn’t start in 2008 of course. It started over a decade earlier when investment banks found new ways of packaging debt. Then they evolved these new markets further by creating products consisting of funds consisting of bonds consisting of shares in packaged debt consisting of subprime mortgages. And these new markets were just as intransparent as the previous sentence was.
