Banks crisis looks short but lessons must be more enduring

Do you want the good news or the bad news? Luckily, it is the same either way: one month on, it seems the short, sharp banking crises on both sides of the Atlantic have fizzled out without causing an outright disaster. (Yet).

No sensible investor wants to see a repeat of the 2008 crisis, and the IMF has reminded us that even the thin sliver of that possibility is something that keeps its officials awake at night.