The failure of Lehman Brothers in 2008 not only roiled global financial markets, but also brought global trade practically to a standstill as wholesale banks refused to fund each other for fear of counterparty failure. The simple banking system of the past, one based on retail savings being concentrated in order to fund the credit needs of borrowers, had evolved into a highly complex – and global – supply chain with knock-on risks of disruption comparable to those seen in Japan last spring.
2008年的雷曼兄弟倒闭事件不仅动摇了全球金融市场，还让全球贸易陷入了事实上的停顿，因为对交易对手倒闭的担忧使得批发银行拒绝彼此提供融资。过去的简单银行体系——集中零售储蓄，以此为基础满足借款人的信用需求——已演变为高度复杂的全球供应链，这一供应链有一种一损俱损的风险，正如去年春天日本灾难的影响。