Five Years Later: Lessons from the Financial Crisis

The deepest economic collapse in 75 years occurred because of a widespread failure across the financial system rather than a single cause, according to a new report by Jeffrey R. Shafer published by the McGraw Hill Financial Global Institute. To safeguard the economy in the future strong regulation, implementation and enforcement of systemic protections and emergency lending capabilities are needed, says Shafer, a former bank executive and Senior Treasury official.