On September 15, 2008, Lehman Brothers announced its intention to file for Chapter 11 of the US Bankruptcy Code. A failure that started the great financial crisis.
Ten years later, the International Monetary Fund sums up the measures undertaken over the years to prevent a similar situation from happening again.
According to the director general of the IMF, "a lot of progress has been made, but not enough". The financial system is safer, "but not safe enough" and growth "has rebounded but is not shared enough".
For Christine Lagarde, "too many banks, especially in Europe, remain weak, capital should "probably" be further strengthened and the problem of lenders "too big to fail remains while the groups themselves grow in terms of size and complexity".
Lagarde then indirectly referred to the policies undertaken by the president of the United States, Donald Trump, explaining that the situation could become more complicated due to the lack of international cooperation, the one that "ironically prevented the crisis from becoming another Great Depression" like that of the 30s of the last century.
In this context, the thing "perhaps most worrying" according to the number one of the IMF is the pressure on legislators to decide to loosen the rules adopted after the crisis, a pressure that has already brought the first results: the weakening of Dodd-Frank.
