The bankruptcy of Lehman Brothers was a fall heard around the world. But according to analyst Christopher Whalen, it was the best thing that could ever happen to the banking sector. Per CNBC:
The moral of the story of Lehman Brothers is that no amount of regulation can prevent acts of wanton stupidity, fraud, and greed in a free society. Expecting regulators to proactively prevent a financial crisis is at best wishful thinking. In the end, the failure and bankruptcy of Lehman Brothers was the best and only outcome for ending this latest nightmare on Wall Street.
