10 years on we have learnt the lessons of the credit crisis, find leading pensions industry figures

The result, which reversed the thinking of the audience at the start of the debate, reflected just how complex and challenging it is to think about whether we have indeed learnt the lessons of the credit crisis. All of the arguments were explored skilfully and energetically, and the dramatic reversal just proves that minds can be changed after hearing all of the arguments.
Mark Ashworth, Chairman of LawDeb Pension Trustees

“For the motion it was argued: We are still borrowing too much, global debt is almost double what it was pre crisis. Lending standards are still bad, and regulations haven’t made the system safer. Risk has moved not disappeared. Culture in finance is as bad as ever and human nature doesn’t change - greed will exist and excess will persist. Against the motion - There’s no more too big to fail, banks are much better prepared to weather crisis, they are smaller & better capitalised. Much lending is now not on bank balance sheets so the system is better set up to absorb. Exposures in derivative system much better diversified. Greed will always be with us but checks and balances in place. And culture has changed.”