US President Barack Obama
Bank crisis lessons 'not learned'
15-09-2009
A year after Lehman Brothers collapsed, a British think-tank has warned the lessons of the crisis have not been learned.
The Institute for Public Policy Research (IPPR) says the rapid return to the City of London's bonus culture shows real reform has been "very limited".
The warnings echoed a speech by US President Barack Obama, who warned of complacency in the banking sector.
Also, British Prime Minister Gordon Brown said that there was "unfinished business" with the banking sector.
"Alarm bells should be ringing with the early signs of a 'back to business' attitude in the City and little evidence that policymakers are taking measures to ensure the next economic recovery is better balanced than the last one," said Tony Dolphin, senior economist at the IPPR.
The report warned that unless urgent action is taken, the banking crisis may not be the last of its type.
