5 years since Lehman Brothers collapsed
MADRID | By JP Marin Arrese | In the aftermath of the world financial crisis, the G 20 solemnly committed itself to undertake a major overhaul to avoid such a disaster from happening again. The diagnosis rapidly identified a disproportionate risk appetite, coupled with lenders’ reckless confidence, as the main culprit. Deregulation and the benign neglect hailed by supervisory authorities as a hallmark for best practices also stood in the pillory. Yet, five years later, no major breakthrough in dealing with the core problems has been performed.
