The Rise of the Shadow Banks

Even as politicians rail against the “too big to fail banking system” that participated in the 2008 financial crisis, a whole new class of institutions referred to as the “shadow banking system” is shaking things up.  What is the shadow banking system?  What new threats and opportunities is it creating for consumers, businesses, regulators, and markets?  What are the likely implications for you and your business?  We’ll provide the answers.

In 2007, Paul McCulley of the bond fund PIMCO i.....