Author: Stefan Rößler
Fund manager Fixed Income
The real estate bubble started to burst in the USA roughly ten years ago, tossing the global economy into a severe recession mainly on the back of contagion effects in the financial sector.
In order to avoid a bad situation from getting worse, many financial institutes had to be bailed out by governments and thus ultimately by the taxpayers. One of the learning points of the financial crisis is to prevent taxpayer-funded bank bail outs in the future.