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Archive Home > 2009 > September > 12 > An industry saved but not transformed

An industry saved but not transformed

By Alex Berenson / The Bulletin
September 12, 2009

NEW YORK — One year after the collapse of Lehman Brothers, the surprise is not how much has changed in the financial industry, but how little.

Backed by huge federal guarantees, the biggest banks have restructured only around the edges. Employment in the industry has fallen just 8 percent since....

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