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Article: Financial Reform may Fail to Avert Another Lehman
- Article from:
- Reuters Hedgeworld
- Article date:
- September 10, 2009
CopyrightCopyright 2009 Reuters Hedgeworld. Provided by ProQuest LLC. (Hide copyright information)
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LONDON (Reuters) - The collapse of Lehman Brothers Holdings Inc.
a year ago has been likened to the 1994 crash that killed Formula
One star Ayrton Senna, in the way it has spurred calls for root-and-
branch review of risk in the financial sector.
Mr. Senna's tragedy led to regulatory changes in racing that have
been effective; deaths on the track are now a rarity. But
governments are not finding it nearly as easy to make quick and
comprehensive changes to financial regulation.
That means risks may remain for another collapse on the scale of
Lehman in coming years, though authorities would probably be able to
act more decisively next time to prevent a financial crisis from
spreading around ...