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In the context of the collapse of Credit Suisse, our lead editorial notes that, for regulators the world over, there are lessons from this episode. Credit Suisse had pre-existing problems that caused its fall, merely accelerated by the difficult moment. Perhaps the most important lesson was underlined by Chief Economic Advisor V Anantha Nageswaran recently, when he argued that “margins of safety” on operations were crucial, for both investors and regulators. Read here
What’s different this time is that global financial stress – which has its genesis in four policy choices made in recent years – is juxtaposed
