The crisis sparked by the coronavirus pandemic is more dangerous, and harder to fix, than anything else previously seen by the men and women currently on finance’s front lines.
The uniquely arrogant Masters of the Universe who dominate the financial sector have long assumed that markets themselves would provide the source of the next big crisis.
For years, investors and analysts pored over the intricacies of financial markets, hunting for canaries in coal mines, particularly when the ageing (and now expired) bull run in stock markets started to smell past its sell-by date.
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Financial Times
Katie Martin is the Financial Times' capital markets editor.
