The present crisis the world fell into a couple of decades ago had certainly the broadest assortment of qualifying characteristics: fiscal, economic, social, industrial, and perhaps lethal as it radically affected and destroyed lives beyond the point of no return. Discover more details about risk management via https://www.riskmate.uk/risk-management-system.
Described by modern economists as the worst crisis experienced by America for a hundred years, it was yet another replica of what appears to be a cyclical phenomenon: the 1929 crisis, the energy crisis in 1973, that of 1997, and more recently the internet bubble.
And despite the lessons learned from the past, together with the technologies evolving The root of the 2008 crisis raised numerous questions, some of them contributing to the foundations of today's capitalism and a few of the common sins of people: greed.
Nevertheless, an individual could have expected that, together with the dynamic of industrial nations and the norms of compliance and audit like those of Basel II and III, where operational risk and credit risk are split, the global monetary system would be protected against the collapse of the bank sector.
As a matter of fact, the crisis finds its origins in a simplified strategy: the lack of accountability, defaults and default on considerable amounts of money against small income, and ultimately the liquidity for the very same institutions failed to have sufficient capitalization to pay immediate big needs when the entire system began to present default cracks.
And that's why French President Sarcoxie recently called for more regulations on commodity markets. But progress in that sense are yet to be commonly agreed or employed by authorities and leaders of industrial nations.