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The next financial crisis could come sooner than you think

Despite improvements in the financial system since the 2008 crisis, the piecemeal reforms that have been enacted fall far short of what is needed

Clouds overhead: while the financial system is safer than it was, politics has taken a turn for the worse
Clouds overhead: while the financial system is safer than it was, politics has taken a turn for the worse Photo: Getty Images

A decade on from the 2008 global financial crisis, policymakers constantly assure us that the system is much safer today.

The giant banks at the core of the meltdown have scaled back their risky bets, and everyone — investors, consumers, and central bankers — is still on high alert. Regulators have worked hard to ensure greater transparency and accountability in the banking industry. But are we really all that safe?

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