lehman brothers

Have We Done Enough to Prevent Another Financial Catastrophe?

Mark Goebel

More than three years after Dodd-Frank financial reform was signed into law by President Barack Obama and five years since Lehman Brothers failed, touching off a global financial crisis, U.S. financial markets remain vulnerable to the kind of meltdown that brought the economy to its knees in 2008. Dodd-Frank –which is supposed to prevent large financial institutions from taking excess risk of the kind that caused JP Morgan to lose more than $6 billion on a series of failed derivatives trades in London—is slowly but surely being watered down. 

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