The Turner Review: A regulatory response to the global banking crisis
by Financial Services Authority (FSA)
Abstract: Over the last 18 months, and with increasing intensity over the last six, the world's financial system has gone through its greatest crisis for a least a century, indeed arguably the greatest crisis in the history of finance capitalism. Specific national banking crises in the past have been more severe - for instance, the collapse of the US banking system between 1929 and 1933. But what is unique about this crisis is that severe financial problems have emerged simultaneously in many different countries, and that its economic impact is being felt throughout the world as a result of the increased interconnectedness of the global economy.