The Hedge Fund, the Bank and the Broker: How It All Fits Together

Plus: Countercyclical Buffers, Central Bank Stocks, Augmentum Fintech

Fifteen years ago, as the financial system began to crumble, I sat at my desk in the heart of London’s hedge fund district trying to make sense of it all.

By summer 2007, the subprime crisis was already in full flow – mortgage originators like New Century had gone bankrupt and investors in securities backed by their and others’ mortgages were nursing los…