Speaking with an analyst about the 2008 financial collapse, I asked if the financial services industry had learned its lesson. She was in a good mood and shot back, "What — are you saying that this might happen again?" Even though we were talking on the phone, I could almost hear her wink. I went into my spiel. Look, I said, this is an industry with a lot of history, regulation and state-of-the-art technology. But — and there's always a "but" — it is run by people. (I could have added that it is run primarily by men, but that's a subject for another Editor's Letter.)
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