The Financial Crisis Made Us Afraid of Risk-For a While
Wall Street Journal, Sept. 8, 2018–Greg Ip (subscription)
Ten years ago this month, the failure of Lehman Brothers exposed how cavalier the world had been towards risk. Households had bought homes they thought could never go down in price, banks had made loans they thought would never default and repackaged them into securities to make them seem riskless and governments, convinced depressions were a thing of the past, had stood by.
