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Business Daily: Lehman's three years on

Lehman's three years on

15/09/2011

BBC World Service - Business Daily, Lehman's three years on

Three years after the collapse of Lehman's is the world facing a second crisis?

It's exactly three years since the collapse of Lehman's plunged the world into financial chaos. Are we facing another "Lehman's moment", and why is it taking so long to unravel the mess left behind?

The news that the Swiss Bank UBS has lost $2 bn at the hands of a rogue trader has thrown the spotlight on investment banking yet again.

It's exactly three years since the collapse of Lehman Brothers plunged the world into financial chaos. Are we facing another "Lehman's moment", and why is it taking so long to unravel the mess left behind?

And Justin Rowlatt also talks to Tony Lomas of accountancy firm, PWC, who tells Justin he still has more than 700 staff working on the Lehman's case, trying to work out who owes what to whom.

But first of all Richard Werner, Professor of International Banking at Southampton University, traces the link between the banking crisis of 2008 and the dangers facing the Eurozone now

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