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

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

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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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