FLASH CRASH WARNING: European Central Bank could trigger ANOTHER financial crisis
THE European Central Bank could be about to trigger another devastating flash crash less than ten years after the financial crisis of 2008.
By VICKIIE OLIPHANT AND MONIKA PALLENBERG
Express.co.uk
Mon, Apr 3, 2017
The global financial crisis following the collapse of investment bank Lehman Brothers is thought to be the worst crash since the Great Depression of the 1930s.
Massive bailouts were put into place, and US households lost an average of $5,800 thanks to reduced economic growth.
And since then, multiple laws have been passed to prevent another such disaster within the banking industry.
But economic historian Werner Abelshauser has warned the banks that stepped in to halt the financial crisis nine years ago could now be about to trigger another devastating crash.
Almost ten years ago, New Century were one of those that helped to trigger the financial crisis after it fell into a “death spiral” in 2007 after riding a wave in the mortgage industry without ensuring adequate fraud protections and credit underwriting standards were in place.
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