Without continuing external financial support, a coercive and potentially disorderly sovereign default could follow
Warning signs ignored
Fitch Ratings survey shows concerns about banks’ credit quality
When the initial turmoil hit, it was largely for financial services institutions; now, it’s focused on sovereign nations
Industry chided for its role in the financial crisis
FSA takes action against senior directors
Policymakers cautioned to avoid over-regulation
Increasing capital requirements the best way to prevent asset bubbles
Impact on corporate credit quality was especially severe in the first six months of 2009
Central bank to maintain flexibility about when and how to intervene in the next crisis