Too Long; Didn't Read
This is and will be, a very deep crisis affecting the whole economic chain. This is not a financial crisis linked to the ill-considered securitization of high-risk mortgages on the American real estate market. The longer the lockdown lasts, the more these economic and social problems will become more acute. This time the choice will not be between Meryl Lynch, Lehman, UBS, or Credit Suisse, but this time it will be “All or none!”