The New Oil Crisis: A Symptom Not a Cause

SVP: The speed of response and the virality because so much of it was conducted on social media and through mobile banking channels. We also found out that the contagion risks associated with small to medium sized banks are significant in a world of social media and mobile banking. SVP: What happened in March is a symptom not a cause of a financial system that is seriously dislocated. Many financial institutions and investors have been taking really dumb bets with that cheap money, engaging in a version of a carry trade," he says.