Lebanese Banks - A Deliberate Depression, Orchestrated by the State

The world bank calls this a deliberate depression, orchestrated by the country's elite. Since the end of the civil war in the early 19 nineties it has been run for whatever money it could extract. The judiciary and other checks on government were deliberately handicapped. Corruption and patronage networks became central features of the state. They have spilled over into an unusually active part of the lebanese economy,. 29 % of the banking sectors assets are held by just eight politically connected families.