The Director of the London School of Economics, Sir Howard Davies, says that a year after the collapse of Lehman Brothers there is still no agreement on controlling the amount of risk taken by major banks.
Speaking on today's programme, Sir Howard, a former Chairman of the Financial Services Authority, said that even though many major financial institutions are underpinned by state money, there is still work to do on ensuring that markets are safer and that banks hold enough capital to back their positions.
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