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News Link • Economy - Economics USA

Lehman is gone but new financial crises may await

(MoneyWatch) It's been five years since the collapse of Lehman Brothers. Has anything changed? Far from being jailed, bankers who presided over the frauds that brought down the U.S. economy in 2008 have kept their money and are living large. "Too big to fail" is now part of the national lexicon, describing banks that remain so big and leveraged that their collapse could imperil economies around the world. An overhaul of financial laws is in limbo as regulators tasked with writing the rules move at a glacial pace. And the apparent front-runner for the country's next central banker is a man who helped create and defend many of the policies blamed for creating the mess in the first place.

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