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A Blueprint for Better Banking: Svenska Handelsbanken and a proven model for more stable and profitable banking by Niels Kroner

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1: General Explanations

Explanations for the cause of the credit crunch fall into two big families.

On one side are those that seek its cause in the background on which the financial system has been operating – the general explanations. On the other side are bank-specific explanations that identify as the culprit characteristics or particular activities of the banking system.

General explanations themselves fall into three camps.

Macro Explanations

The first, macro explanations, blames mostly macroeconomic imbalances such as large current account deficits in the US, UK, Ireland, Spain and similar economies, and large current account surpluses financing them in the large exporting countries (China, Germany, Japan, oil-producing nations). ...

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