THE roots of the current global financial crisis can be traced back to the fallout in the US subprime mortgage lending, which started in early 2007. It spread to other markets and economies via a combination of market failures and regulatory weaknesses.
In general, markets failed because of poor corporate governance and incompatible executive remuneration structures. The lack of transparency in trading procedures, financial instruments, and balance sheet positions of major financial institutions also exacerbated market failures.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
