Our lofty central bankers and regulators have forgotten that finance is a derivative of the real sector. If the real economy is sick, fixing the derivative won't solve the problem. Photo: Bloomberg Our lofty central bankers and regulators have forgotten that finance is a derivative of the real sector. If the real economy is sick, fixing the derivative won't solve the problem. Photo: Bloomberg
Our lofty central bankers and regulators have forgotten that finance is a derivative of the real sector. If the real economy is sick, fixing the derivative won't solve the problem. Photo: Bloomberg
Lehman Brothers

Six years on, we still haven't learned the real lessons from Lehman collapse

Andrew Sheng says regulators fail to understand that the world needs equity, not more debt

Topic |   Lehman Brothers
Our lofty central bankers and regulators have forgotten that finance is a derivative of the real sector. If the real economy is sick, fixing the derivative won't solve the problem. Photo: Bloomberg Our lofty central bankers and regulators have forgotten that finance is a derivative of the real sector. If the real economy is sick, fixing the derivative won't solve the problem. Photo: Bloomberg
Our lofty central bankers and regulators have forgotten that finance is a derivative of the real sector. If the real economy is sick, fixing the derivative won't solve the problem. Photo: Bloomberg
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