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FT.com / In depth - Wall Street ‘made rod for own back’

FT Alphaville found this 10/31/2008 on ft.com

Wall Street unwittingly created one of the catalysts for the collapse of Bear Stearns, Lehman Brothers and American International Group by backing new bankruptcy rules that were aimed at insulating banks from the failure of a big client, lawyers and bankers say. The 2005 changes made clear that ...