Why Banks Fail
Unrelenting Bank Runs, The Conundrum of Central Banking & South Africa’s Place in The Global Order
Authors: David Buckham, Robyn Wilkinson & Christiaan Straeuli
GENRE: International Current Affairs / Finance
RELEASE DATE: November 2023
Memoirs of a senior Cuban MiG pilot combined with brand-new perspectives from South African, Cuban, Angolan and Soviet combatants provide the most thrilling and complete account yet of air combat during the Angolan conflict.
ABOUT THE BOOK
In a world where banks are perceived as unshakeable fortresses, there is a worrying truth that lies just beneath the surface: banks are far more fragile and fail more frequently than we choose to believe.
In the US alone, more than 560 banks have failed since the turn of the century. In South Africa, the collapse of Saambou in 2002 sparked the A2 Banking Crisis, which saw half the country’s banks deregistered in the aftermath. In 2023, the high-profile failures of SVB, First Republic Bank, Signature Bank and Credit Suisse dominated global headlines and set off waves of panic across the international banking landscape.
Why do these large financial institutions with hundreds of billions on their books fail out of the blue?
What role do central banks play in these dramatic failures?
How can the global financial system be reformed to be more resilient, and what path should South Africa take?