Preparing for a Financial Crisis: Can We Avoid the Next 2008?
The current landscape of the global economy is full of uncertainty and potential danger. The article in question claims that half of America’s banks are already insolvent and warns of a looming credit crunch that could trigger a global financial crisis. It points to data from the Federal Deposit Insurance Corporation (FDIC) which shows that more than 5,000 banks have negative tangible equity - meaning their liabilities exceed their assets.