A decade ago this week, the Wall Street investment bank Lehman Bros. collapsed. Combined with the housing market crash and an economy in recession, it plunged the U.S. into the worst financial crisis since the Great Depression. In Southern California, home prices in many areas are near their historic highs, but not in places like Victorville. Though the economy is booming, some question whether we are ready for the next recession. And columnist Michael Hiltzik thinks we’ve already forgotten some of the lessons of 10 years ago.

Source: Los Angeles Times September 10, 2018 12:00 UTC