“Just look out of your window and you can see a banking crisis,” David Llewellyn, banking professor of Loughborough University, recently told an audience of financiers in Bangkok. Banks have once again been as surprised as everyone else to find themselves in the thick of a financial crisis, this time in south-east Asia. Have they abandoned customary restraints and become chronically risk-addicted?
Banks that have lent heavily to Asia are being blamed for bad credit decisions and for threatening the very fabric of the financial system.
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