It’s hard to identify a system-wide implosion, much less be able to call one. But India may currently be having its own “Lehman Brothers Moment.”
India’s Lehman Brothers is Infrastructure Leasing & Financial Services (IL&FS), a massive “shadow lender” to infrastructure projects across the country. Almost exactly a decade after the global financial crisis that Lehman’s crash triggered.
Why Lehman? Well, there are three stark similarities that also mirror as fundamental differences.