The Big Question: What lessons have been learnt since Lehmans collapsed?

David Cowell founder of   Myddleton Croft   Still too big to fail The short answer is very little has changed to make large, conglomerate banking houses safer. All that has happened is banks have conclusively proved they are too big to fail and the taxpayer will always bail them out. In general, regulators are introduced as a means for politicians to abdicate responsibility. The key lesson which people outside banking and politics have learned is regulation, and regulators, will never be able to do an effective job. This is because firstly, they will never be able to pay enou...