16 Sep The First Anniversary of Lehman’s Collapse
The Los Angeles Times quotes R&R Consulting’s Sylvain Raynes on the lessons learned — or not– in the financial industry one year after the collapse of Lehman Brothers.
“[Raynes] became an early critic of the excesses in the so-called structured-finance market. Now, instead of creating the products, he helps investors analyze the complex securities they already own and consults for law firms that are suing Wall Street over the money-losing investments. The structured-finance business is down dramatically, Raynes said. ‘We used to be more relaxed and now we’re a little more anxious,’ he said, ‘like everybody else is.'”
Read the full article, “Crisis has not altered Wall Street,” by Walter Hamilton, Los Angles Times, September 14, 2009.