Even now that the Great Recession has stabilized, questionable practices continue. One is shadow banking. These are unregulated institutions, which borrow and lend money. Included among them are hedge funds, private equity funds, special purpose entities, asset-backed commercial paper and other structured investment vehicles. A 2013 academic paper notes that in 2007, the 11 largest national shadow banking systems in the word totaled $50 trillion in size. Even after surviving the financial crisis, shadow banking totaled more than $100 trillion in 2012. The risk has multiplied.