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Road to Crisis

In: From Crisis to Crisis

Author

Listed:
  • Brian O’Sullivan

    (King’s College London)

Abstract

This chapter explores whether the merchant banks took unacceptable risks to retain their market share. Despite growing concerns about the European situation and an increase in commercial failures, it is shown that a number of merchant banks adopted high-risk strategies. Their exposures are demonstrated by examining the available financial data, including balance sheets and bad debts. The official response will also be considered to determine the nature of any support provided by the Bank of EnglandBoE and to assess whether there was moral hazard in the behaviour of the merchant banks.

Suggested Citation

  • Brian O’Sullivan, 2018. "Road to Crisis," Palgrave Studies in the History of Finance, in: From Crisis to Crisis, chapter 0, pages 189-223, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-3-319-96698-4_7
    DOI: 10.1007/978-3-319-96698-4_7
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