Facing a One-Hundred-Year Crisis
The impact of the COVID-19 health crisis is unprecedented in scale and reach. While 9/11 disrupted world travel and put cities on high alert due to public safety concerns, there was no widespread economic “lockdown.” The 2008 economic recession put markets and businesses around the world in turmoil but did not induce the fear of public safety that accompanies a pandemic. The COVID-19 crisis combines both destructive elements. Every banker in the country is focused on the question of how to address the immediate and long-term impacts of this highly unpredictable generational crisis.