In-depth primer for both the expert and the amateur. Experts interviewed include Eichengreen, Barro and Rodrik. Wide range of hand-picked background articles
Semantics used to soften blow of the crisis. Recession preferred over depression. Possibly inaccurately as it's global problem, was precipitated by a crisis and leading industries are under capacity
Big think-piece on what banks are for. Not much good to society since they got bored with financing industry, shifted to trading securities. Much of this a bit obvious, all of it too late, still a good primer.
Encouraging piece on the future value to the economy of small businesses who survive the credit crunch. Will become the new engine of growth. "More than 70% of new jobs were created in firms with fewer than 20 employees"
Leading economics commentator argues for a new form of capitalism. More state intervention in finance and macro-economics; less in education and health. Controversial but enjoyable
Good-bye efficient market hypothesis, hello speculative market hypothesis. Princeton economist develops new theoretical model following crisis (warning: presentation does include equations...but not till the end)
Long paper (PDF), much admired among investment professionals, on strategies of heavily indebted countries. Mainly, they can default, or inflate debt away. What decides the outcome?
Fascinating review of Fool's Gold. Describes history of JP Morgan's credit derivatives team and details how the crisis began. Reflects well on JP Morgan. Less well on other banks
Good overview of the Irish situation. Makes the case for crisis spreading next to Spain and Portugal. Structural reforms required to avoid disaster. Who's next? Italy?
Detailed academic paper prepared for the US Financial Crisis Inquiry Commission. Reveals importance of shadow banking system as ongoing credit source, essential for job creation. [Download]
Interactive presentation covering most aspects of the crisis. Serves as useful backgrounder and has some expert analysis worth viewing in particular on Shadow Banking
Account of the White House Economic Team during the crisis. Fascinating portrayal throughout. 100 billion stimulus plan quickly rose to discussion of 1.2 trillion plan
Essay based on Reinhart and Rogoff's "This Time It's Different". Despite title, mainly about financial crises in past centuries, and what they might have taught us if only we knew our history
Useful piece of stock-taking. America, capitalism have emerged relatively well. Nobody understands financial markets. Demographic crunch-time is here
Americans won't be passing on debts to their children. Crisis is coming in this generation. Default isn't inevitable, but no sign yet of action needed to steer country away from crisis
Credit crunch ended cycle of rising global debt. Now comes time for repayment—or, more likely, default, and/or inflation. So concludes this long, pessimistic survey of debt, all of it worth reading