The chickens are still coming home to roost; it better be a big coop. It’s been over three years since the failure of Lehman Brothers caused the devastating credit crunch that saw banks refusing to lend to other banks; legitimate companies unable to refinance maturing commercial paper and an almost grinding halt to the economies of the developed world. Yet, the bad news refuses to end. After months of anticipation

This guest post is written by Gurpreet Banwait who is the director of Insight Solutions Product Management at FINCAD. Twenty or thirty years from now, when people look back on this time period, will we view the US as having been through a depression? Wikipedia defines a depression as a sustained, long-term downturn in economic activity in one or more economies. It is a more severe downturn than a recession.