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Behind the scenes at The Economist
Both banks and private-markets giants are on cockroach-watch
Catch up on global daily news
Compelling long reads
Tune into captivating conversations
Watch engaging short films
Behind the scenes at The Economist

The world’s most fragmented financial industry faces dramatic change

A pair of bankruptcies highlight the risks

Andrew Ross Sorkin, the author of “Too Big to Fail”, has turned his attention to another financial crisis

Its humbling could raise borrowing costs

The industry is supplanting Wall Street’s privileged position on the American right

Co-operation on the financial system will be the casualty