Saturday, August 14, 2010

Revisiting the 1982 Global Banking Crisis

. Saturday, August 14, 2010

Somebody in my Google Reader (I think Chris Blattman) pointed to this hour-long 1983 Canadian documentary on the 1982 sovereign debt crisis that threatened the global banking system. It's pretty good. The first half is mostly about the bailout of Dome Petroleum, which affected Canadian banks much more than others. Think auto bailouts in the U.S. for analogue. The last 15-20 minutes are more interesting to me, however. A lot of parallels to the current crisis, including the politics of bailouts, who funds international institutions (and therefore who calls the shots), the need for international coordination but difficulty in reaching it, etc. All common themes on this blog.

Anyway, it's a nice perspective on the last major global banking crisis, while it was ongoing.


Revisiting the 1982 Global Banking Crisis




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