Collapse of Greensill Capital has strong historical parallels with fall of the medieval Medici bank

Superb article by Prof Harold James in Proj Syndicate:

The collapse of Greensill Capital has a strong historical parallel in the decline and fall of the medieval Medici bank after it went too far with the financial innovations of its own day. The lessons from both failures are clear, but most likely will be forgotten until the next financial meltdown.

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