It is astonishing how quickly things can unravel. Exactly 14 years ago, we witnessed the start of what would eventually become the Global Financial Crisis when the share price of the US investment bank Bear Stearns collapsed. The bank had been buckling under the weight of its exposure to the subprime market. There had been warning signs at different banks and in different geographies for many months. However, spooked investors moved on to Bear Stearns. Over the weekend of 15-16 March, JP Morgan struck a deal to buy Bear Stearns for $236 million. To put this into context, the price…

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