Forget "too big to fail" - what really matters is how connected financial institutions are. Two new systems offer the promise that financial systems could be monitored in real time, allowing early signs of a crash to be detected in time to avert it. Crucially, both eschew the "too big" refrain - the idea that some companies carry too many assets to be allowed to go under. When the relatively small Lehman Brothers was allowed to go bankrupt in September 2008, it proved just how misleading this thinking can be.
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