The most recent global credit mishap of 2008, the worst financial catastrophe of the 21st century, succeeded the Great Depression of the 1930s as the worst event of all times, and used in stress testing under severely adverse scenario analysis. Rather promoting financial stability, the Basel...

Metaphorically speaking, prior to the man-created dollar virus leaked from the 1944 Bretton Woods Conference (i.e. the virology lab), financial crises were termed as a panic and the Panic of 1907 was the last financial crisis termed this way. The roaring 1920s (equity and housing bubbles in the...

In the post-WWII (since the 1950s), there have been over 400 banking, currency, and sovereign debt crises, which translates to about 10 crises per annum; furthermore, the combined cost of the last five crises since the late 1990s is in excess of $30 trillion, but when the cost of the COVID-19...