The collapse of SVB is a reminder that the fastest way for the United States to cede ground in the present era of great power competition is to debase its financial system and relinquish its global f…

Ten people who passed away this year who shaped world affairs for better or worse.

The size of the market for commercial paper in the U.S. has fallen dramatically since its peak in July 2007. After the disruptions of the Asset-Backed Commercial Paper (ABCP) crisis in August 2007 …

As the graph above indicates, the markets' perception of the risk of failure increased following the bankruptcy of Lehman Brothers. The Wall Street crisis has demonstrated the need for a systematic…