Lets keep aside the technical details of subprime crisis & investment decisions of Lehman Brothers, and think holistically as what caused fall of these giants & the financial crisis.
Was it greed & unethical practices? I thought we came of that age after the Enron, Tyco episodes and introduction of corporate governance.
Or was it policies of Bush Administration?
Or the fundamental financial structure was flawed, which happened to be hidden till now?
Or any other reason??
As the whole world gets sucked slowly into the crisis, with every single page of WSJ & Economic Times carrying the gloomy news, one is forced to think that whether this mess could have been avoided somehow?
Only after we answer the above questions, as what went wrong in holistic sense, then only we can go to next pertinent question, as how such avoidable crisis can be avoided in future?
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